The Market On Monday

I hope you had a terrific weekend. My favorite part of the weekend is the local farmer's market. There's a person there who sells the holy grail of black and white cookies. This cookie is perfection.

At 6:35 a.m. futures are significantly up, DOW futures are up 111 points. That is pretty pretty up. Oil is up almost $1 per barrel. Also there was a big rally in world markets to help set this all up.

Well if futures hold, the market will obviously open with a bounce. We have learned from experience that in the present market climate, that even with futures this high and with oil this high and even with a well positioned dollar, that there is no guarantee that the rise will hold for the day. That is an understatement.

All eyes will be on Friday's government report on employment. That is the big enchilada. One might suspect that it will be presented as an improvement. The government needs to look as good as possible.

CNN: Stocks set for a boost

"...this week the attention will turn to the economy, particularly the July jobs report due Friday..."


Two reports on tap Monday are the Institute for Supply Management's survey on nationwide manufacturing activity and a report on construction spending.