The Market On Friday

  Good morning. It is 71 degrees and overcast here in Upstate NY. It was sleeping weather last night as a steady rain cooled off the heat and humidity. The wind was strong as there are leaves, small branches, and other remnants of trees all over the neighborhood. Unbelievably we are heading into July, the time is flying by. The garden is active in the sense that we are eating food out of it - right now it's arugala, swiss chard, and basil. It's another working weekend for me as repairs to this old house continue apparently endlessly.

  At 8:00 a.m. ET futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.

  Today is the last day of the second quarter meaning that the bevy of second quarter corporate reports are set to begin soon. Usually it's Alcoa that is the first company to report. In spite of the recent volatility due to the announced abatement of quantitative easing, the market has gained during the second quarter. It will now be the second quarter reports that will influence the indexes in coming weeks.

CNN: Stocks: Ending the quarter on a high note

Year-to-date, stocks are up 12% to 15%.

...Asian markets ended in positive territory.