The Market On Wednesday

Good morning. It is 54 degrees and sunny here in Upstate NY. The morning walk was crisp and pleasant, lots of bikers are out this morning. Bikers like that crisp pre-Fall weather. Mr. Akin will remain in his race for the U.S. Senate, and given the trends in our country he will probably win. I have no faith in the American voting public's ability to discern anything let alone pre-medieval thinking from 'modern' thinking. Let's turns the country back a few centuries, let's even go further, the possibilities are endless.

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

Early in the afternoon investors will be parsing the minutes of a recent Fed gathering. The hope is that the groundwork for another round of quantitative easing is being established. Since the idea is bandied about so frequently would it be safe to think that quantitative easing is the magic bullet potentially applied within the next year's timeline. We have two and one half months to go to the election, it will be fascinating to see how the markets flow in this coming period.

CNN: Stocks to open lower

Investors continue to keep an eye on Greece...

...investors will spend Wednesday parsing the minutes of the latest Federal Reserve meeting, while also digesting a report on existing home sales and the latest round of corporate earnings.

The National Association of Realtors will release data on existing home sales for the month of July at 10 a.m. ET.