The Market On Wednesday

  Good morning. It is a cool 26 degrees with clouds starting to clear here in Upstate NY. I'm reading that this entire Susan Rice - John McCain witch hunt is not what we think or what McCain is alleging. It's about the GOP wanting John Kerry for Secretary of State so that Kerry's senate seat comes up for grabs in the next election cycle, and then they can try to re-install Scott Brown in the vacant seat. Tricky, tricky. I hope Obama puts Rice's name forward.

  At 8:00 a.m. futures are modestly down. CNN has not yet posted the value of the dollar versus other world currencies, nor has it posted the price of oil per barrel. However stocks closed lower in both Asian and European markets, so one might think that we are in for another weak day on Wall Street.

  It's the same old recent story, investors are looking to see what our government comes up with in dealing with the fiscal cliff. I'm starting to read that the market more than likely will continue being weak until some agreement or resolution is reached. One might also think that if this trend does in fact continue, then we might have another buying opportunity at the end of December. Just saying.

CNN: Stocks: Eyes on the fiscal cliff

And with Dec. 31 right around the corner, most experts say trading could be choppy for the rest of the year.

Coming up Wednesday, investors will get a look at the health of the housing market at 10 a.m. ET, when the Census Bureau releases October data on new home sales.