The Market On Wednesday

Good morning. It is 57 degrees and hazy cloudy here in Upstate NY. My morning walk was unremarkable, although I did see a yard fire. It was somebody burning leaves, except it looked kind of interesting in early morning dark. According to the forecast today is also the beginning of another long period of rain. Its rain day after rain day...

And so much for my prediction that today's futures would be down. At 8:15 a.m. futures are significantly higher, the dollar is mostly down or flat, and oil is up. The trifecta is presently in for the market to open higher. Go figure.

It is the ongoing optimism about the proposed Euro-zone plan to tackle its debt crisis that is the cause for this morning's glory regardless of Alcoa's less than stellar but still good 3rd quarter report.

Notice that President Obama's jobs bill was summarily defeated in the Senate. Could it be that the door for a Mitt Romney presidency is being opened wider with Christie's new endorsement. Aye yi yi yi yi.

CNN: Stocks set to rise at the open

...debt problems overseas are the most challenging hurdle for stocks...


...the U.S. Senate failed to approve President Obama's jobs bill. The 50-49 vote in favor of the measure fell short of the 60 senators...


Oil for November delivery gained 50 cents to $86.31 a barrel.