The Market On Friday

Good morning and welcome to the weekend. It is 57 degrees and the sun is struggling to make an appearance behind a cloud wall. I am hoping for some sunshine this weekend because there are still many things to do on this old house before the snow flies. Looking ahead rain is in our future for Saturday and Sunday, clearly a sun intervention needs to be held.

At 8:10 a.m. DOW futures are significantly down, the dollar is mostly up except against the British pound, and oil is up over $2 per barrel.

Allegedly it is higher than expected inflation in Europe that is at the heart of today's early sell off. There is a fear that interest rates in Europe will correspondingly rise too. A storm continues to gather in Europe and how this thing is going to play out is not clear but nothing indicates that a good and easy outcome will occur any time soon.

Today also represents the end of the third quarter. That means that very soon corporations will be presenting their third quarter reports. Long story short - mix so so corporate reports due to a slowdown in with Eurozone debt fear issues coupled with rising inflation and the markets will be pressured downward. That would be the worst case.

CNN: Stocks: Eurozone fears rule market

It's been a volatile quarter, with fear about Europe's debt crisis and an economic slowdown weighing on investors.


A government report on personal income and spending is due before the opening bell.


The University of Michigan's final reading on consumer sentiment in September is due shortly after the market opens.


Oil for November delivery gained $2.49 to $82.38 a barrel.