The Market On Tuesday

  Good morning. It is a cool 52 degrees and it is cloudy/damp here in the Upper Hudson Valley. It could be another cool-ish gray damp rainy day although the forecast has it sunny starting Wednesday and through the rest of the week. Today is Saka Dawa, a very holy Buddhist day connected to the birth, enlightenment, and death of the Buddha. It is said that today all results from virtuous actions are multiplied exponentially. So, do a good deed today even if you believe it or not.

  At 8:45 a.m. ET futures are lower and the price of oil is now floating above $61 for light crude. The market is poised to open lower.

  The price of oil continues to surprise. Greece on the other hand is not surprising anybody. The country is faced with a big debt repay marker this Friday. A failure to repay will send Greek people scurrying, think Great Depression, a run on banks, massive economic upheaval in Greece. Ugh. This has gotten the world investors very concerned putting a brake on indexes all over the place.

CNN: Stocks: 6 things to know before the open

(Greece) needs to repay the International Monetary Fund nearly 1.6 billion euros ($1.75 billion) in June -- starting with 300 million euros on Friday. Many doubt its ability to come up with the money.

Failure to pay could trigger a run on Greek banks by depositors who worry that their cash may lose value if Greece is forced to leave the eurozone.

Inflation is back in Europe...