The Market On Wednesday

Good morning. It is 66 degrees and cloudy here in Upstate NY. The sun will allegedly make an appearance later on. Today was my jog day. I ran my 2.5 mile course in record slow time, running at a pace just a notch faster than walking. Quiet morning today, there is a certain stillness in my neighborhood not many people out and about.

At 8:25 a.m. futures are significantly higher, the dollar is mixed, and oil is down.

Earlier this morning Moody's downgraded the credit rating on several French banks over the banks' exposure to Greek debt.

As a result world stock market's rose. I can't explain it at the moment but its a matter of bad is good. And if you are like me you know that really bad is really really good.

Investors will be reacting to wobbly European economic conditions, this is the present pattern.

CNN: Stocks headed for another choppy day

...Moody's ended up downgrading the French banks Credit Agricole SA and Societe Generale Wednesday morning, over exposure to Greek debt.


Retail sales data will be released at 8:30 a.m. ET.