The Market On Tuesday

Good morning. It is 49 degrees and raining here in Upstate NY. April showers will bring May flowers. Water is flowing. I went out for a walk at 6 a.m. and it was clear, long story short, I returned home drenched. My sweater, pants, shoes and all are soaked.

At 8:15 a.m futures are down a tad, the dollar is down against the pound, and oil is down.

I have to get up to speed on the rebalancing of the Nasdaq - 100. They want to dilute Apple's influence. People that bought Apple at the bottom of the market in March 2009 have made out rather well.

We get the sense that not much is in play at the moment. Its really Monday the 11th, the start of Q1 earnings reports, that is key. Put CNN in the corner that is more optimistic about equities in 2011.

CNN: Nasdaq's Apple move to drag on stocks

...investors mull over the rebalancing of the Nasdaq-100 index to diminish Apple's influence, a rate hike in China and another downgrade of Portugal's debt.


"Those investors who've got a portfolio tracking that index will need to sell Apple shares to rebalance their portfolio..."


Crude oil for May delivery slipped 65 cents to $107.81 a barrel.

CNN: Stocks in 2011: Brace for a bumpy road higher

"Global growth seems to be continuing, so earnings are likely to keep edging higher..."


"Higher oil prices will serve as a cost to consumption and trim economic growth..."