The Market On Wednesday

Good morning and welcome to Hump Day. It is 66 degrees and sunny here in Upstate NY. Throughout the night we had strong rains along with some thunder and lightning. The prediction is for a very nice day. My early morning walk was standard except that more people said hello this morning. I always find it strange to be in close proximity to a fellow human being and that person pretends I am not inches away. Such is contemporary life.

At 8:15 futures are moderately up, the dollar is mixed, and oil is up.

Greece will vote on new austerity measures designed to qualify that country for more financial assistance to get through this unending Greek crisis. The Greek people have something else in mind. They are not pleased to say the least. There is an uprising occurring and generally when the state locks horns with the people, well most of the time the state has the military superiority while the people have the moral superiority. Heads often roll and not the heads of those working for the state.

Today investors will look at more data on America's troubled housing market. That sector is dragging and its understandable.

At the moment all is slightly fluffy as far as stocks go. The market may even open higher. As we know that is where our understanding ends.

CNN: Stocks: Pinning hopes on Greece

Greece's vote Wednesday follows a debate of whether the country should adopt severe spending cuts and tax increases, in exchange for a financial aid package from the European Union and the International Monetary Fund.


The National Association of Realtors will release its May pending home sales data at 10 a.m.


Oil for August delivery gained 87 cents to $93.76 a barrel.