The Market On Tuesday

At 7:45 a.m. futures are up.

Data on housing starts in July is expected to be improved. How improved is the question. Will it be giddy improved or ho hum improved.

Now the articles are saying that investors are trigger happy, and that the pull back on last Friday and yesterday was just the result of the jitters. The jitters are left over from August 2007 and 2008. The economic trauma seen in those months still causes investors to freak out.

(in August 2008) ...Fannie Mae and Freddie Mac started wobbling at the precipice while AIG...

Monday was an ugly day, but investors should try to rein in their anxiety about what it means for such big-picture questions as what shape the economic recovery will take. That’s because a battle between bulls and bears, which typically emerges at economic turning points, has taken hold of financial markets — meaning today’s worries about the global economy are likely to morph into tomorrow’s worries about too much stimulus creating dangerous asset bubbles. source

Reuters: Stock futures point higher, housing starts seen rising

...ahead of data expected to show housing starts rose to their highest level in eight months.