The Market On Wednesday

Good morning. It is 60 degrees and sunny here in Upstate NY. Yes, we are back to good sleeping weather. The new dog is adjusting to the lower easier temperatures and is full of vinegar, too much vinegar. Her 11 month old strong body is very alive and ready to move at the slightest provocation. The extreme heat made her much more passive and quiet - ah it was just a temporary illusion.

At 7:40 a.m. futures are flat, the dollar is mostly higher against major world currencies and the price of oil is down per barrel. The market is poised to open flat to lower.

Investors are allegedly awaiting a key eurozone meeting which opens tomorrow. Previous similar meetings have done little to appease the financial crisis, yet hope springs eternal.

Till the meeting adjourns, it's a wait and see what happens matter. Meanwhile today investors will parse data on the housing market and manufacturing.

CNN: Stocks: Investors await European summit

European leaders are under pressure to announce plans to backstop the debts of struggling nations, while also laying the groundwork for future growth...


...economic reports on durable goods orders and the housing market (pending home sales).