The Market On Thursday

Good morning. It is 43 degrees and cloudy almost rainy here in Upstate NY. The logo has rain and 50s for the day. Earlier I was out running with the dog, yes running. The dog is a fine runner, of course next to me she is merely trotting. It's great having a companion jogger and I think in time she will become excellent at it. This morning it was trail jogging too, so she got to meander through the woods a bit.

At 8:30 a.m. futures are slightly down, the dollar is mostly up against major world currencies, and the price of oil is down. Right now the market is poised to open lower.

Today's pre-market activity is in line with the entire week. Investors are seeing data that suggests the world economy is sluggish. Again I would like to point out that the market is all about unlimited growth, and exactly how realistic is that in a world of finite resources. In some respects our market based economy is like a virus that grows strong but eventually consumes the host.

Otherwise, investors will be looking at the all important weekly first time layoffs number and a revision of the fourth quarter GDP. Perhaps these numbers will spark an upward momentum.

CNN: Stocks: Growth worries keep investors sidelined

Disappointing reports on durable goods orders, consumer confidence and home prices have dragged on domestic markets this week, while ongoing concerns about a growth slowdown in China have added pressure on world markets.


The government's third estimate of fourth-quarter GDP for 2011...