The Market On Wednesday

Good morning. It is 44 degrees and sunny here in Upstate NY. The logo shows clouds but for the time being it's pleasant out. More trail running this morning with the new dog, and this time I could have used a bit more stretching before the run. Mental note taken.

At 8:20 a.m. futures are significantly lower, the dollar is mostly up against major world currencies, and the price of oil is down. The market is poised to open with a thud.

Investors are very upset that the Fed will not be offering another round of quantitative easing. It's that simple.

Beyond the bad news from the Fed on the no quantitative easing decision, investors will be parsing data on employment in March and manufacturing.

It could be a wreck of a day with the indexes. Perhaps an unknown ameliorating factor will arise and modify what will otherwise be a very weak day.

CNN: Premarkets: Stocks to fall after Fed's comments

...quantitative easing, a prospect that now appears dim...


...Wednesday morning, with reports on the labor market, crude inventories and growth in the non-manufacturing sector on tap.