The Market On Wednesday

  Good morning. It is 55 degrees and sunny here in the Upper Hudson Valley. Looks like we are in for a splendid Spring day where the temperature goes up in the 70s and hallelujah for that. It appears that overall, Baltimore slept a little better last night. There was a big debate over what to call these young black teens who are at the center of the looting. How about we call them juvenile delinquents, will that help. This is ridiculous a criminal is a criminal, no letting them off the hook because they are 'disenfranchised and poor'. You don't get a free pass when you commit crimes, I don't, you don't, and these kids do not either. I dislike this tendency to coddle the looters and justify their actions for reasons x, y, and z. We are all responsible for our actions.

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

  We see that Apple has shipped out their watch. I'd like to have one but the price is a little steep for me, I'm not that into high tech. Also in the past I've been burned many times when I got into a just released computer/electronic gizmo. Three months later the thing is out of date and the next version is twice as good. The Fed will be releasing their 2 day meeting minutes today and as always when the Fed speaks everything else stops in its tracks. This just in - the first quarter GDP expanded at the rate of 0.2%. This news will radically disappoint. Are we headed back towards recession?

GDP CNN: Stocks: 4 things to know before the open

The Federal Reserve will conclude its two-day meeting on monetary policy and release its monthly statement at 2 p.m. ET.