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Friday, April 11, 2014

The Market On Friday

  Good morning. It is 53 degrees and overcast here in Upstate NY. The forecast is predicting rain and it's also predicting we go into the 70s for the next few day starting tomorrow. The wind still reminds us of Winter. We have yet to hit that bright, warm, convincing Springtime day that will do the trick for all of us.

  At 8:45 a.m. ET futures are moderately down and the price of oil per barrel is down. The market is poised to open lower.

  After yesterday's literal wipe-out, what else can go wrong. Quite a bit can go sour and sour real fast. JP Morgan's first quarter report has set in motion a significant pre-market drop. If this plays out poorly over a period of days, we are into a correction. Otherwise investors will be parsing all kinds of data today including my favorite - consumer sentiment or as I like to call it -  testing the ingrates willingness to blow money...

CNN: JPMorgan earnings shake broader market
U.S. stock futures dropped significantly after JPMorgan Chase earnings missed forecasts.

"With earnings season in the U.S. under way, tech company earnings will be under intense scrutiny with investors likely to dump their tech stocks on even the faintest sign of bad news out of a company..."

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