The Market On Wednesday

Good morning. It is 33 degrees and overcast here in Upstate NY. The milder January temperatures continue. I did not listen to President Obama's attempt to rally the country and his political ambitions last night. It is on my immediate list of things to check out. Hey one thing positive you can say about Obama is this - at least he's not Newt Gingrich.

At 8:05 a.m. futures are a little below flat, the dollar is up against major world currencies, and oil is down in price per barrel. Right now the markets are set to open slightly lower.

As far as I can tell at least five pieces of salient information will be influencing investors and the trend of the market today.

First there is the fallout from Obama's speech and how it will be viewed by Wall Street.

Next, there is the critical issue of Greece and how it may or may not be able to pay its National nut in March.

Then we have data coming out from the most recent Fed meeting regarding interest rates and an unusual prediction for our future.

This is followed by the ongoing fourth quarter reports from major corporations, and did you see that Apple is going gang busters.

Finally there is some data on the crucial housing market.

So like all of us on Main Steeet, it will be a full day on Wall Street.

CNN: Stocks set for quiet open

Greece is in desperate need of an agreement to receive additional bailout funds from the European Union and International Monetary Fund.


The Fed is set to release forward-looking forecasts for the federal funds rate for the first time ever.


...pending home sales for the month of December...