The Market On Friday

Good morning and welcome to the holiday weekend and July. It is 57 degrees and sunny with some clouds too here in Upstate NY. We are in a weather pattern that one can only describe as delicious. There is no humidity, that will change in July and August. There is a seamless flow from indoors to outdoors. Everybody wants to be outside.

At 7:25 a.m. futures are slightly up, the dollar is up, and oil is slightly down.

Investors were pleased to see strict austerity measures approved by Greece. The Greek people feel otherwise. The move by Greece coupled with some recent positive economic news in the US has propelled the market higher over the past few days. The DOW is back to being well over 12,000 not yet breaking 12,500 but closing in.

Today investors will be looking at data on housing, manufacturing, and consumer sentiment. We suspect many investors are already gone for the weekend and one also might suspect that as a result trading volume will be lower.

The second quarter reports kicks off soon. That is the tale of the tape.

CNN: Stocks: Investors pause after 4-day rally

The ISM's manufacturing index comes out at 10 a.m. ET...


Investors will also get May construction spending figures from the Commerce Department, as well as the final read on University of Michigan's May consumer sentiment survey.


Oil for August delivery slipped 84 cents to $94.58 a barrel.