The Market On Wednesday

  Good morning. It is 61 degrees and raining here in Upstate NY. The rain continues in what appears to be the rainiest Spring ever in these parts. Rainforest it is, okay it beats an endless drought. We see that the Tea Party has beaten Eric Cantor. I wish I could find that dramatic or interesting but it isn't. We replace one knuckle-dragger with another more seriously impeded knuckle-dragger. The halls of Congress have never been so pointlessly graced or would that be disgraced.

  At 8:30 a.m. ET futures are moderately lower and the price of oil per barrel is up. The market is poised to open lower.

  If I didn't know better I would say we are into a mini-correction. Investors need to get to the beginning of July for a new round of corporate reports, this time for the second quarter. Personally it strikes me that the pointed news right now is not the stock market, it's about all the shootings that are going on. It's all over the US and the trend feels like it's increasing. This is very ugly, society needs an intervention.

CNN: Stocks: 5 things to know before the open

At 8:30 a.m. ET, a report on U.S. state GDP growth will come out, revealing the health of the 50 states.