The Market On Tuesday

  Good morning. It is 49 degrees and overcast here in Upstate NY. The weather logo is indicating that it will go well into the 60s today and it will rain . We'll gratefully take it, judging from conditions in California this area has abundant water right now and hopefully into the future. As far as water goes, too much is significantly better than too little.

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

  S&P and NASDAQ futures are lower. There is a sense that the upcoming slew of first quarter corporate reports will not meet expectations and in turn that equities are stretched beyond their value. So, we could say that the market is presently in at least a minor correction and perhaps a more significant correction if the fear of lesser expectations is met.

CNN: Another down day looks likely for stocks

In corporate news Tuesday, Alcoa will report first-quarter results after the closing bell, the first major company to do so.