More economic data is coming out today that will let investors know if the rise in oil is causing consumers, AKA you and me, to curtail our wallet spreading. The rise in oil prices is the closest thing we have to inflation.
So its a day about consumers and consuming. It all sounds so gutturally visceral. I imagine automated scientific probes going in and out of the mouths of sedated bodies, checking the esophagus and stomach in an endless line of millions.
The other big news is about Obama reshaping financial regulation - lots of luck with that. Its more like trying to make a silk purse out of a barrel of oil.
Reuters: Obama to unveil plans for financial rules overhaul
Futures are of the mixed variety, this is up, that's down. I like the way they use words like, investors may want to nibble. Nibble? Is anybody nibbling.
Reuters: Stock futures mixed before CPI, Obama plans
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