The Market On Thursday

Good morning. It is 67 degrees and sunny here in Upstate NY. In fact it is gorgeous out, perfect comfortable temperature and slight breeze, birds are chirping and the world seems heavenly. Our newly adopted cat Trala is running around the house looking for the best window sill to sit in. Trala has discovered the external world and we think she wants a piece of it. She is a house cat and I'm not sure she could make a decent go of it in the outdoors.

At 7:50 a.m. futures are slightly up (and trending down), the dollar is down, and oil is up.

Investors will be looking at the latest revised figures on the first quarter GDP, and they will soon see first time unemployment claims for last week. Both are salient indicators of our economy's shape as you know.

Summing it up, investors are a little spooked by data that suggests the economy is once again slowing down, but they are simultaneously surprised to see corporations projecting decent growth. Its the same story of recent years, Wall Street is happening but Main Street is lagging, really lagging.

CNN: Stocks headed for gains

...indicators pointing to a second-quarter slowdown in the recovery are keeping investors on edge.


"The global equity markets continue to wrestle with the paradox of rising earnings estimates and declining global economic growth indicators..."


Oil for July delivery rose $1.77 to $100.96 a barrel.