The Market On Wednesday

Good morning. It is 41 degrees and sunny here in Upstate NY. Lately the weather has been perfect and just in case you are a NY Knicks fan, they were perfect last night in defeating the Celtics with a barrage of three pointers from Smith and Novack. Somehow I sleep better when the Knicks pull off a solid win.

At 8:20 a.m. futures are moderately lower, the dollar is mostly up against major world currencies, and the price of oil is up 1 penny per barrel. Right now the market is poised to open lower.

Investors will be looking for corporate results to spark the movement and direction of the market today. Notice that leftist anti-Iraq war protestor scurge Halliburton will be reporting today and no doubt that report will exceed investor expectations.

I think many of us are still waiting for the second major coming of the recession, yet surprisingly that arrival keeps getting pushed ahead.

CNN: Stocks: Gearing up for more earnings

U.S. stocks rallied Tuesday as worries about Europe eased and investors parsed the latest round of corporate results.


...on Tuesday, the International Monetary Fund boosted its global growth outlook to 3.5% for 2012...


...financials will be back in the spotlight Wednesday.