The Market On Wednesday

Good morning and welcome to June. It is 73 degrees and sprinkling rain here in Upstate NY. The hot weather has entered this part of the world. The humidity is back. After an abundance of rain in May the vegetation is literally over-growing. The plants are loving it. No one can explain it, but the people over at 350.org are talking climate change causing subtle moisture changes in the atmosphere resulting in dramatic precipitation. We certainly hope this is not the case but yesterday's announcement that 2010's world carbon emissions were the highest yet, is not helpful. Sorry to see Dallas lose but let's be realistic, 3 superstars will beat 1 1/2 superstars every time.

At 8:00 a.m. futures are slightly down, the dollar is mixed, and oil is slightly down per barrel.

Investors will be looking at data on housing and manufacturing today. But the primary interest for the week will be Friday's government report on job creation in May. That is the name of the big game. We will be getting preliminary reports on May's job picture this morning.

Hopefully the market stays flat or sideways today otherwise yesterday's gains will evaporate quickly.

CNN: Stocks set for lackluster start to June

The market's performance in May was the worst since August 2010.


Major auto manufacturers also release their May sales figures on Wednesday, starting at 11 a.m. ET.


Oil for July delivery slipped 25 cents to $102.70 a barrel.