At 8:00 a.m. futures are moderately down. The indicators for the morning's 9 a.m. opening look weak. The bull run from last week is now back on hold as the temporary euphoria lifts and reveals the same economic troubles that have not really gone away.
Obama is going to present some more corporate give-a-ways in an attempt to appease the radical right. The incumbent president usually always loses the mid term election. We will get a reading on the third quarter in October. The Democrats will spin the successes, the radical right will call it socialism. My own suspicion is that the economy continues to rest in its present malaise as the reality is clear that the world is not quite the same since the Great Recession descended.
CNN: Stocks poised to slip
...optimism from the previous week faded...
President Obama will introduce a new $200 billion tax cut on Wednesday that will allow businesses to write off all new investments in equipment made between now and the end of 2011.
Oil futures for October delivery dropped $1.76 to $72.84 a barrel.
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