The Market On Thursday

Good morning. It is 71 degrees and rainy here in Upstate NY. We are starting to feel a little more confident that it may not snow anymore this season. But you never know. Still the blooming is accelerating and the landscape is starting to look more and more decidedly green. The hostas in our front yard are poking up. I like the way plants make their way through the dirt and poke through. Nature is insistent.

At 7:45 a.m. futures are slightly down, the dollar is down, and oil is unchanged in price.

The stock market has been on a genuine roll. The DOW is perched at a three year high. Let's not forget that all pretty things fade away.

Investors will be getting a report on the first quarter GDP from the commerce department. By 8:30 a.m. we will get first time unemployment claims from last week. Also investors will be getting data on housing sales. In short it is an important type of day from the point of view of the amount of salient data coming through the pipes. The GDP news is especially important and we will hear about it throughout the day.

CNN: Investors waiting for GDP

On Thursday, the Department of Commerce releases its report on first-quarter gross domestic product.


Later in the morning, a report from the National Association of Realtors is expected to show a 1.7% rise in pending home sales for the month of March.


Oil for June delivery was unchanged at $112.76 a barrel.