Some corporate action this morning as we have Williams Partners (WPZ) down 2 dollars in the pre market as the company announced a deal two weeks ago to buy Caiman Eastern Midstream LLC so it is selling 9 million units to finance it. The stock has now pulled back from 60 bucks in the recent mlp pullback. Also in the news this morning is Atlas Pipeline Partners (APL) is buying an interest in Mississippi Lime which is apparently oil rich. And Plains All American (PAA) is announcing earnings will exceed the midpoint of its guidance which is never a bad thing unless the market has already figured this out.
Markets this morning are lower ahead of the open with the dow trading down 100 points as Europe is weak this morning. Gold is down nearly 50 bucks this morning as the dollar rallies. Crude and nat gas are both down so we are set up for weakness today. Its probably not unexpected as we settle into the second quarter. Even Apple is down 5 dollars this morning. So at least for the start we will be taking a little gas here.