The Market On Tuesday

Good morning. It is cold and gray here in Upstate NY. There was a lot of snow melt the past week. The ground is spotty with some bare patches of brown frozen grass here and there.

At 7:50 a.m. futures a moderately high, the dollar is mixed, and oil is up.

The market started out the new year with an almost gaudy jump on Monday. The financial journalists continue to report optimism surrounding equities. I always read that with a grain of salt.

Friday will be a telling day. That is when the government will release numbers on added employment for December. On one hand the numbers will probably be better. On the other, the work is seasonal and might not be steady, plus we are reading that many are simply not looking for work. They have dropped out of the hunt.

CNN: Stocks poised to extend gains

"What happens in the first two weeks of January generally sets the tone for the rest of the year, and so far it looks like enthusiasm for equities will continue."


Major auto companies will release sales figures for December, starting late morning.


Oil for February delivery edged up 29 cents to $91.84 a barrel.