The Market On Tuesday

Good morning. Its a gray, damp, and bare November morning here in upstate NY. There is no smell of burning firewood. It is warmer than one might expect this time of year. I saw a female jogger this morning in a tank top and shorts. Meanwhile I am out there in hat, gloves, and wool jacket. I guess that's the difference between the walkers and the joggers. Joggers are a hardy bunch.

At 8:30 a.m. futures are moderately down, the dollar is up, and the price of oil is down. This is the 'market takes a drop' trifecta if there ever was one.

The fear has returned. European countries that are facing serious insolvency issues are back in focus. I was wondering when that concern was going to re-arise. Well here it is. The up to this point fine bull market is under global pressure.

Hopefully cooler heads will prevail, but at the moment a quick opening drop of 100 points or more in the DOW seems very possible.

Enjoy the gray.

CNN: Stocks brace for early battering

Slumping stock futures in the U.S. are reacting to "fiscal problems that continue to rattle investors over in Europe with countries like Ireland and Spain..."


Tuesday brings reports on industrial production and the latest Producer Price Index, an important reading on the price of goods at the wholesale level.


Oil for December delivery fell $1.18 to $83.68 a barrel.