The Market On Friday

  Good morning. It is 63 degrees and sunny here in Upstate NY. The logos are indicating a hot and sunny weekend. Sounds like Summer to me. I am carefully following the NY Knicks as Phil Jackson goes about the business of rebuilding the team. Last night they selected some picks in the second round of the draft and in a few weeks we get to see them in action as Summer league play begins in July.

  At 7:30 a.m ET futures are slightly lower and the price of oil per barrel is up. The market is poised to open lower.

  The gist I am getting from the sentiment expressed in the article is that the market is more or less in a holding pattern with no compelling reason to jump in or to jump out. I believe the market will trade relatively close to it's present lofty range until the second quarter ends and those corporate reports start piling up in July. Enjoy the weekend.

CNN: Stocks: 5 things to know before the open

The University of Michigan will report its consumer sentiment index at 9:55 a.m. ET.