The Market On Thursday

On a certain level who cares what the market is doing today, we just want to stay cool and get out of the heat. It is freaking hot around here. Not only did I fry an egg on the sidewalk, I also cooked up a lovely pot roast.

Regardless, at 6:45 a.m. futures are slightly down.

Today we get unemployment numbers. I can't make any prediction about the direction of the stock market, I mean seriously who can especially as of late, but I can make a prediction on the unemployment numbers. They are in the "blows" range.

Watch those quarterly reports which will soon be trickling in for investors to parse. Hey the DOW cracked 10,000 again on Wednesday. Who knows what is going to happen. The reports flip from day to day, and sentiment changes from day to day. I read these notions by big deal investors and think, baloney. Opinions are all over the board right now.

CNN: Stocks poised to slip

The Department of Labor is scheduled to release its weekly jobless claims report before the market open.


The government's report on consumer credit in May is due in the afternoon.

Reuters: Stock futures point to slip after surge

A U.S. appeals court hears oral arguments on the Obama administration's request to stay a ruling that lifted its six-month moratorium on deepwater oil drilling.


The International Monetary Fund upgraded its 2010 global growth forecast on Thursday, citing robust expansion in Asia and renewed U.S. private demand, but warned the euro area's debt crisis posed a big risk to recovery.