Tuesday, January 31, 2012

The Market On Tuesday

Good Morning. It is 34 degrees and overcast here in Upstate NY. We also have a fine coating of snow from overnight which is already disappearing. Well I am elated. We just got in from a dog play group with our new dog. It is critical for a dog to socialize with other dogs, it helps to make them good citizens. The new puppy is worn out from running around with her new friends. Its quite a relief to find this.

At 8:35 a.m. futures are moderately higher, the dollar is down against all currencies except the yen, and oil is pricier per barrel. The market is poised to open higher.

Investors are pleased to see that the E.U. has agreed on a bailout fiscal fund established to save whoever. The measure does not help out Greece as Greece faces a March loan deadline. The expectation is that Greece will default and this is not so pleasing.

Otherwise, investors will be looking at data on home prices and consumer confidence.

Are you confident?

CNN: Stocks: Investors welcome Europe's fiscal pact
European Union leaders agreed to implement the European Stability Mechanism, a permanent rescue fund, in July.

...the first summit of the year ended without new solutions for the debt crisis in Greece.

The Case-Shiller 20-city home price index is scheduled to be released at 9 a.m.

...the Conference Board's Consumer Confidence Index is also set for release...

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