Wednesday, June 24, 2015

The Market On Wednesday

  Good morning. It is 69 degrees and sunny here in the Upper Hudson Valley. It is a perfect day. We see that Southern states are under pressure to remove Confederate flags from government buildings and to redesign state flags as well. Large outlets and distributors have removed Confederate flag items from their stock. This is a new movement to stamp out the signs of racism in the South as a result of the terrible shooting of nine innocent people in Charleston by an avowed white racist. I think the flag removal is a positive step unfortunately racist sentiment and beliefs will not go away quite as quickly as the flag. Still, it's a good step, strikes me that it's also way past due.

  At 8:45 a.m. ET futures are moderately lower and the price of oil per barrel is up now trading just above $61. The market is poised to open lower.

  According to a Wall Street Journal article, the US economy shrunk in the first quarter by .2%. The previous estimate was -.7% and there is the suggestion that the remainder of 2015 looks to be strong. Netflix anyone - 7 for 1 split, hmmm.

CNN: Stocks: 4 things to know before the open
...the third revision for estimates of first quarter GDP. The previous estimate from the bureau showed GDP shrank by 0.7% in the first quarter.

No comments: