The Market On Tuesday

Good morning and welcome to Spring. It is 54 degrees and sunny here in Upstate NY. The forecast has the temperatures going into the 80s in the next few days and high 70s today. Let's just say that has to be a record in these parts. It just doesn't get that hot around here in March. The blooming is in full gear, birds are very active, and I am starting to see the insects. Its great, welcome back warmth.

At 8:10 a.m. futures are moderately down, the dollar is up against major world currencies, and the price of oil per barrel is down. Right now the market is poised to drop at the opening bell.

Investors will be parsing Federal data on the weak housing market today. Housing is the name of the game. If the data is stronger than expected then perhaps the market can change direction, otherwise at this time it looks to be a stinker.

Notice that Fed Chair Bernanke will be speaking today. That is always a very important event for investors. One imagines Bernanke very carefully tailoring his comments for any ill advised words that might suggest something worse than what is occurring. The man can change the value of the world's wealth with one nasty mispronunciation.

CNN: Stocks: Housing in focus

Investors will spend Tuesday looking for signs of strength in the housing market, while also watching for clues about the direction of the U.S. economy in comments from senior policymakers.


...Federal Reserve Chairman Ben Bernanke will deliver a lecture at the George Washington University School of Business.