The Market On Tuesday

Good morning. It is 61 degrees and cloudy here in Upstate NY. My early morning walk was ordinary but I could not help but notice a distant neighbor out there in the pre-7 a.m. hour mowing his lawn. One might be inclined to think that some neighbor of his was swearing a blue streak as they tried to sleep through the sound. Its suburban bourgeois irritation.

At 8:10 a.m. futures are significantly higher, the dollar is mostly up, and oil is up more than $2 per barrel. Right now the market is poised to open with a blast at 9:30 a.m.

Its not just an easing of woes about the European debt crisis type of day, its an optimism has returned about the European debt crisis day.

A new plan is emerging to write down debt in Europe and the world is abuzz with optimism.

In addition one of my own personal favorite pieces of economic data primarily because it lets us know exactly what we are, comes out this morning. That would be the Conference Board consumer confidence index this time for July.

Oh consumer, are you you confident? I alas am not confidently consuming.

CNN: European optimism to boost stocks

...a new plan to ease Europe's debt crisis was afoot.


...July consumer confidence index...


The Case-Shiller 20-city home price index...