Good morning. It is 43 degrees and it is sunny here in the Upper Hudson Valley. The forecast predicts a sunny day with temperatures in the 60s this afternoon. It is starting to look pretty pretty green out there, the grass is getting to it's pure emerald green essence. No shock last night with tRump winning all five states, Bernie was able to get a win in Rhode Island, and Hillary won the remaining four. Let me be direct, Trump is a asshole petulant bully.
At 9:00 a.m. ET futures are modestly lower and the price of oil per barrel is up. The market is poised to open lower.
High tech stocks had a rough first quarter, and notice how stalwart Apple had an especially miserable first quarter and its stock is taking a hit. Also notice that oil has advanced above $45 a barrel which is its highest level in many months. Advancing above $45 means that the ground is broken for a new trading range of $45 to $50. That may not happen of course and if it does, it could take many months. I expect oil to 'dip' yet again, but my readings tell the story of commodities traders seeing oil going anywhere from $55 to $80 by year's end. Also notice that the Fed will be leaving a trail about any new interest rates, that's this afternoon.
Apple just announced its worst quarter in over a decade and its shares are set to drop sharply at the open, below $100 each. Investors are awaiting the latest interest decision from the U.S. Federal Reserve, which is due at 2 p.m. ET.
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