The Market On Wednesday

Good morning. It is 56 degrees and cloudy here in Upstate NY. The weather logo has sun coming through today and temperatures back in the 70s. We are all in awe of the early Spring delicious weather. In this neighborhood the forsythia are in bloom, dogwoods and magnolias are soon to follow. When I recognize how easy it is to exist in the warmer temperatures it makes me want that warmth all year round...

At 8:10 a.m. futures are modestly higher, the dollar is down against most major world currencies, and the price of oil is up per barrel. Right now the market is poised to open higher.

Notice that the average price of gas is now $3.86 per gallon.

Investors are seeing data on the housing market this week. As you know housing is one sector of the economy that is very weak and not recovering well. Data this week has so far been positive.

Investors are concerned that China's frantic economic growth is slightly stalling out. Once again is it realistic to think that the world's economic growth must continue and ramp up year after year. Clearly the environment does not agree. Yet this is how Wall Street works.

CNN: Stocks: More housing data on tap

The housing market remains in focus Wednesday, with a report on existing home sales and the weekly Mortgage Bankers Association application index on tap.


Data released by the government on Tuesday showed a big increase in requests for building permits in February...


...concerns about slowing growth in China...


Gas prices are up 17.8% this year.