The Market On Monday

I hope you had a great weekend. Doing house renovation on Sunday, I managed to sprain my thumb and a knee. Expect to see more than my usual number of misspellings.

At 7:30 a.m. futures are moderately up. Who can explain it. CNN did not.

It is only through inference that we can perhaps conclude that investors are pleased to hear that the Fed will be taking further measures to kick the economy along. My own sense is that this ultimately means that the corporate world will get a big kiss and a pat on the head. Its more about Wall Street than Main Street.

CNN: Stocks set to open higher

This week's main event will be Tuesday's policy statement from the Federal Reserve. The central bank is widely expected to hold interest rates at historic lows near zero percent, a policy that has been in place since December 2008.


However, investors are eager to see what additional steps the Fed is willing to take to help support the economic recovery, which is turning out to be weaker than many analysts had expected earlier this year.


Oil futures for September delivery rose 99 cents to $81.69 a barrel.