The Market On Tuesday

Good morning. It is 24 degrees and mostly sunny here in Upstate NY. There's just no denying the return of light, its great. We see some light out there now around 6:15 a.m., we always get that 20 to 30 minutes of bonus light prior to sunrise and after sunset. In a sense the equinox is a misnomer from the point of view of actual light. The new dog had a great morning playing with her new good buddy two streets over. Its fun watching the dogs play, they bite each other with such abandon, its non stop frolicking. Its also good to see the dog huffing and puffing and with the tongue hanging from fatigue.

At 8:20 a.m. futures are moderately higher, the dollar is neutral to slightly higher against major world currencies, and the price of oil is higher, weighing in just over $104 per barrel. Inflation here we come...

Investors are no doubt pleased to see that Greece has made a deal to acquire funds so as not to default on its big March bond payment. We also get the sense that its borrowing from Peter to pay Paul. The financial noose is getting tighter, we shall see how long Greece can exist on a respirator. Greece is now a major experiment for the greedy forces of privatization, the ordinary people can be damned in the face of it.

No doubt we are at another financial crossroads. What happens next? Does the DOW traverse the 13K region and explore little known or seen territory or is another correction just around the corner...

CNN: Stocks consider Greece deal

...eurozone finance ministers completed a deal early Tuesday that will provide Greece with the €130 billion in funding it needs to avoid default next month.


...Greece needs to make severe budget cuts that reduce its debt to a figure 121% of its gross domestic product by 2020. Currently, debt is 160% of GDP.


Home Depot reported fiscal fourth-quarter earnings and revenue that topped analysts' expectations.