The Market On Thursday

Good morning. It is 55 degrees and rainy here in Upstate NY. We had a real nice run of brilliant Indian summer weather and now its back to a period of rain days. Excuse me for belaboring the point, but the amount of rain we are getting at least from my point of view seems unusually high. Fortunately I have rain gear and this morning I was out running the mean suburban streets in the wetness. I like it. Not too many others braved the inclement weather, so I had my run of the road. Saying I run is a bit of a stretch, its more like walking fast and then a little bit more.

At 8:10 a.m. futures are slightly down, the dollar is mostly up, and oil is down.

The stock market has been on a winning streak this month and perhaps the new DOW trading range is between 10,500 and 11,500 give or take. You just never know, sentiment is a fickle element.

There is a new Eurozone plan for tackling Europe's debt crisis. At this point its still just an idea, but investors seem optimistic about it. Otherwise third quarter reports are flooding in and more specific information about the health of the corporate economy is assembling. I have yet to read something that indicates misery and disaster, on the contrary its all fair to good to very good. The money is rolling into not the 99%, into the 1%.

CNN: Stocks set for a weak open

European Commission president Jose Manuel Barroso announced a five-point plan Wednesday to address Europe's sovereign debt problems.


PMorgan Chase reported quarterly earnings-per-share at $1.02, topping Wall Street estimates.