Coming Up On Wall Street

Good morning. It is 62 degrees and raining here in Upstate NY. It looks like weekend plans to work on the entrance way to the house are on hold right now. Maybe the rain will break for a few hours. It is good sleeping weather.

As you know the major indexes have been in decline for 6 weeks in a row. So now what happens?

Simply setting all immediate concerns aside, I will offer my own two bits on the matter.

In the beginning of July companies will begin to issue their second quarter reports. The second quarter ends on June 30th. Between now and June 30, the market probably will remain restless. It will be the definitiveness of the second quarter reports that will be compelling. How will the second quarter reports look? Offering another guess, one suspects not too great but simultaneously not the worst either.

Reuters: Dow, S&P end sixth losing week - is seventh on tap?

"...we could see the market instantly bounce back if we get anything remotely good."


China's sales to the United States and the European Union slumped to their weakest since late 2009, excluding Lunar New Year holidays, underlining the view that the world economy is stumbling.


In another negative for stocks, the euro tumbled more than 1 percent against the U.S. dollar as fears about Greece's debt returned to the forefront and investors curbed expectations about the European Central Bank's interest-rate hikes.