The Market On Wednesday

  Good morning. It is 55 degrees and overcast here in Upstate NY. It feels like we could be in for some rain. Yesterday was indeed the hottest and most humid day of the season. We all expect the Summer to become a real scorcher. On the garden front, after planting most of the garden over the weekend we are now already seeing little bugs eating away at the plants. Have you noticed a lot more insects this season, I have. Somebody needs to explain to me what the conditions are that makes this insect population greater.

  At 8:45 a.m. ET futures are modestly higher and the price of oil per barrel is down. The market is poised to open higher although some energy stocks might lag.

  Just like you I am watching the stock market in awe as it proceeds to set new record highs each day. The DOW is presently at 16,675 and it is possible that it may exceed that today although one never knows what will happen by closing time. One suspects Vegas is taking bets on a possible DOW at 17,000.

CNN: Stocks: 4 things to know before the open

"We continue to see a market that feeds on upward momentum," said Peter Cardillo, chief market economist at Rockwell Global Capital.