The Market On Friday

  Good morning. It is 65 degrees and rainy here in Upstate NY. The forecast is calling for rain through the weekend. The temperatures are beginning to hover in the 70s , too bad they can't remain there for about 8 months or so. The big CNN headline for the morning is about firenadoes in California. Talk about an extreme weather event. As you know the drought in California is a big concern. We are talking food prices and not to mention how millions of people will get at water. It is a water war.

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

  The past few days have been stinkers on Wall Street. Disappointing first quarter results have helped to drag it under. The good news is that we are headed into the weekend and a rest. Meanwhile investors will be parsing economic data today on housing and consumer sentiment. I know you are feeling sentimental oh consumer.

CNN: Stocks: Lively week ending on fearful note

Declining Treasury yields, disappointing quarterly earnings from Wal-Mart and a broad sense of fear in the markets has contributed to pushing stocks down.