The Market On Wednesday

Welcome to Wednesday, the week is flying by.

At 7:40 a.m. futures are slightly down.

We have heard repeatedly that we are experiencing a sluggish recovery, one of the sluggish-est in fact. It should not come as a surprise to anyone then that economic data is also weak and sluggish. This is the present trend from Tuesday, weak data suggesting a sluggish economy. You get these simple two word phrases happening, repeat them enough times, and somehow its supposed to make sense.

Well one might assume that today's economic data, and it is a week of economic data, will be sluggish. One could hope for one decent report and one bad report, sending the market into a sluggish sideways movement.

CNN: Stocks poised to open lower

Investors will analyze payroll processor ADP's report on private sector employment in July, plus the Institute for Supply Management's services sector index.


The dollar neared a 15-year low against the Japanese yen, but gained ground versus the euro and the British pound.


U.S. light crude oil for September delivery fell 11 cents to $82.44 a barrel.

CNN: Lawmakers are warned: Inaction hurts economy

"It's probably one of the slowest recoveries we've had since World War II."


...uncertainty over tax policy -- as well as uncertainty on how health care and Wall Street reforms will play out -- played a role in the sluggish consumer confidence levels of the past few months.