The Market On Friday

Good morning and welcome to the weekend. It is 75 degrees and sunny here in Upstate NY. There is a very slight breeze helping us cope with the humidity plus the weather logos show a thunderstorm today and that would cool us off a bit. Yesterday was a hot one, we were cooking. The new dog and hot humid weather are not the perfect mix. She is lazing about and we are limiting her outside activity. We bought her a baby pool and she's learned to wade into it and cool off, very cute. Dogs are so innocent. Congratulations to the Miami Heat, the series pitted the team of the present against the team of the future. The basketball world will hear a lot from Kevin Durant who is in my opinion the best player on the planet.

At 7:50 a.m. futures are modestly higher, the dollar is mostly up against major world currencies, and the price of oil is up per barrel. The market is poised to open higher.

As you know the DOW took a major dive on Thursday with equities shedding tons of value. It's the perfect storm of poor economic data throughout the world led by a tremendous economic decline in Europe with a long restructuring road ahead.

There are no major economic reports due out today and so one might suspect that investors will either become refocused on the plight of Spain, Greece, et al or they will enjoy the well priced equities market and trade with interest.

CNN: Stocks poised to rebound

The (Moody's) downgrades included five major U.S. banks -- Citigroup, Morgan Stanley, Goldman Sachs, Bank of America, and JPMorgan Chase...


The German Ifo business confidence index fell to its lowest level in more than two years...


Oil for August delivery rose 52 cents to $78.72 a barrel.