The Market On Wednesday

  Good morning. It is 30 degrees and overcast here in Upstate NY. The forecast still shows sunshine for today and tomorrow so we shall see. We are all making preparations for a fine Thanksgiving meal. As we know the preparations can be both enjoyable and stressful. Let's try to emphasize enjoyable, so everybody, chill!

  At 7:30 a.m. futures are flat, the dollar is down against major world currencies, and the price of oil is down per barrel. The market is poised to open lower.

  The dispiriting news of the morning for investors is the falling apart of the detail negotiations surrounding Greece's debt reduction package. So it's still back to the eurozone crisis.

  Briefly scanning the news, there is some hope for a cease fire in the Israel/Gaza war conflict  however reading that a Gaza bomb took out a bus in Tel Aviv paves the way for intense retaliation. War is the ultimate disastrous solution to a poignant human problem. At the center of war are people with severe ego problems whose hubris and arrogance exceeds normal understanding. They of course believe they are in the Godly right and light because it's all about promoting some fabricated and oddly justified notion of nationalistic pride, among other things.

CNN: New European worries weigh on stocks

...without finalizing the details of a debt-reduction package for Greece

...reports will be released on consumer sentiment and initial jobless claims...