The Market On Wednesday

Good morning. It is 5 degrees and clear in Upstate NY. That would be the coldest day of the year so far. The forecast has the temperatures back in the 40s for the next few day. Romney wins the Iowa caucus with just a few votes more than Santorum. Santorum?! This just goes to show how information deprived the bread basket of America truly is. Romney will be the GOP candidate challenging Obama and right now the suspicion is that Obama wins. A lot will occur in the next 11 months to pad or detract from each candidates potential victory. One could say its Obama's victory to lose.

At 7:30 a.m. DOW futures are slightly down, the dollar is mostly down, and oil is down. The market is not looking like it will continue with yesterday's gains, at least not at the opening bell.

I am surprised to not be reading 'fears about the euro debt crisis.' Certainly that has not gone away. One suspects that it will re-arise shortly.

Also one might wonder if the Iowa caucus has any influence over today's market activity. One suspects that either Obama or Romney would be desirable Wall Street presidents into the next presidential term. Its a win win for Wall Street.

CNN: Stocks: Can the New Year rally continue?

The Census Bureau will release data on factory orders for the month of November before the bell.


...the Commerce Department will release data on auto and truck sales for December.


Oil for February delivery slipped 70 cents to $102.26 a barrel.