The Market On Friday

Good morning and welcome to the weekend. It is 67 degrees and sunny here in Upstate NY and we just might have a glorious day. As a long time fan of professional basketball I am happy to see that the finals will get under way on Tuesday. Dallas will play Miami, it will be strong team play versus superstars. I would have preferred to see Chicago versus Dallas because I think that series would have been more even. Right now I have to think that Miami will win it. It could go seven games but in the end Miami is too talented.

At 8:15 a.m. futures are relatively flat, the dollar is down against the major world currencies, and oil is slightly up per barrel.

Today investors will see data on personal income, consumer sentiment, and pending home sales.

As we are gong into an extended weekend with Wall Street closed on Monday it is thought that the market might stay relatively calm today. That is one expectation. One suspects many investors are already on vacation.

In spite of a 3% drop in May, the stock market seems to be staying buoyant. It is thought that investors have already factored in many of the troubling economic indicators of the last few weeks. Some are insisting that the market has room to grow this year. We will see.

CNN: Stocks: It's been 'a bruising month'

The stock market will be closed Monday for the Memorial Day holiday.


...many analysts say the market is still headed higher this year.


Oil for July delivery gained 30 cents to $100.53 a barrel.