The Market On Wednesday

Good morning. It is 46 degrees and overcast here in Upstate NY. Allegedly we are headed for temperatures in the 50s today. That is a remarkably moderate temperature for this area on the first day of February. January is the coldest month and February is usually no slouch either. Are we really going to skip Winter this year and end up with a barren cool-ish season minus snow? Its undeniably the mildest Winter in my recollection. The nice thing about February is always the noticeable return of light. Welcome back, we missed you.

At 8:00 a.m. futures are moderately higher, the dollar is mostly down against major world currencies, and the price of oil per barrel is higher. The market is poised to open higher.

Investors are giddy over a report showing that manufacturing has picked up world wide. This can only mean that demand has also picked up and as we know consumerism drives the modern economy, like it or not. Its our reality.

Distressed Greece remains in the background and because of this fact the market could always take a swerve down if news on Greece begins to dominate. Its like a randomly opening bottomless pit in the center of the Bacchanalian banquet.

CNN: Stocks poised for manufacturing boost

Manufacturing activity picked up in China, Germany, France and the United Kingdom in January...


Meanwhile, anxieties over Greece and its struggle to broker a debt-reduction deal with private-sector creditors continue to underpin sentiment.