The Market On Wednesday

  Good morning. It is 70 degrees and looks like more rain here in Upstate NY. We are back into a period of daily rain, I think global warming will turn this area into a rain forest, seriously. I was happy to see that the extreme Texas anti-abortion bill was overturned. On the other hand as I am a strong believer in a two state America, Red America and America, I would like to see red states like Texas move as far to the right as possible in order to help facilitate this separation. As conservative extremism appears to be intensifying, not in terms of numbers, but in terms of policy, desires, and inability to compromise how can this co-exist with progressives? I like to see people happy, and so a two state solution is the way to go.

  At 8:15 a.m. futures are moderately higher and the price of oil per barrel is down. The market is poised to open in the higher to mixed area.

  China's economy is taking center stage in the recent days of market volatility. Decent economic reports on consumerism on Tuesday have helped investors re-believe in a recovering U.S. economy for the well to do. Today we get a third reading on the first quarter GDP and that number will have lots of resonance especially if it is above or below the second reading.

CNN: Stocks: Modest gain expected at open

"On balance the [People's Bank of China] is edging out the Fed as the main concern for markets at the moment..."

...third estimate of gross domestic product for the first three months of the year.