The Market On Friday

  Good morning and welcome to the weekend. At 7:00 a.m. ET it is 64 degrees and foggy here in Upstate NY. The temperature is expected to hit 90 by mid afternoon, mix in the high humidity and it will be uncomfortably hot. It's lush and green here at this point on the last day of May, the vegetation is loving the mix of heat and rain. The new dog nudged me out of bed at 6 a.m. needing to do her business. I'm glad she does this, it strikes me as an intelligent approach with the alternative not being desirable at all.

  At 7:05 a.m. ET futures are moderately down and the price of oil per barrel is up. The market is poised to open lower with some energy stocks possibly lifting.

  Futures are down following the trend in European and Asian markets which are also down. The state of the eurozone remains bad, unemployment is significantly down and weak in many many countries. The sense is that the market is in a one day it's good one day it's bad flip flop mood but that the correction is not quite here yet.

Reuters: Euro shares slide, dollar climbs off three-week low

Euro zone inflation ticked up to 1.4 percent in May from 1.2 percent in April...

CNN: Stocks: Losing some momentum

... awaiting a handful of new economic reports, including data on personal income and spending due from the Commerce Department at 8:30 a.m. ET.