The Market On Monday

Good morning. It is snowing and very cold here in Upstate NY. We really got clobbered with snow overnight. People are digging out and as far as I could tell the main roads look pretty good. I went out for my 2.5 mile walk a few hours ago and I had on a silk t-shirt, regular cotton t-shirt, microfiber long sleeve shirt, woolen sweater, fleece vest, woolen jacket, and down vest. Also had on the microfiber long johns and flannel lined pants. That's seven top layers, no wonder I was so hot. Walking was not easy, it was like walking in a nightmare where your moving your legs but not getting anywhere.

At 8:30 a.m. futures are modestly down, the dollar is down, and oil is down. Its all down.

The one or two investors who somehow managed to make it down to Wall Street now have a lot of say over the world's economy.

It is China's recent bank interest rate hike that has investors puzzling. They are wondering what exactly this means in terms of the soon to be world's greatest economy.

CNN: Stocks set for lower open

On Sunday, the People's Bank of China raised its benchmark interest rates by a quarter of a percentage point...


Trading volume is expected to be extremely light.


Oil for February delivery slipped 25 cents to $91.26 a barrel.