The Market On Friday

Well what do you know, the weekend is back and better than ever. My weekend agenda is the same as always, work, rest, work. We are always renovating this old house. It never ends. The house abuses me with unremitting uncompromising control, it is master and slave driver. Please, release me old house.

At 7:00 a.m. futures are moderately down. The market can be summed up in one word - down. Things look pretty crappy right now. The GDP is worse than expected. Hey isn't that some kind of screwy oxymoron, "worse than expected." Think about it.

I place the blame on you, you ingrate. Clearly you have not heeded my message. Spend your money, all of your money, all the time. You can't take it with you.

CNN: Stocks poised for weak start

A revised reading on consumer sentiment from the University of Michigan is expected to have risen to 67.5 in July, up from the previously reported 66.5.


U.S. light crude oil for September delivery fell 62 cents to $77.74 a barrel.

Reuters: Stock futures slip ahead of GDP data

The main focus on Friday is U.S. GDP figures at 8:30 a.m. ET. U.S. economic growth likely slowed in the second quarter as a capital investment drive by businesses was sated by imports and consumer spending tapered off, a government report is expected to show.