The Market On Monday

Good morning. It is 20 degrees and slightly overcast with diffuse sunlight here in Upstate NY. I hope you had a good weekend, restful and recharging. I worked through an intense head cold which is still lingering, with voice change and droopy eyes. Bed rest is beneficial and about all you want to do.

At 8:00 a.m. futures are moderately down, the dollar is mostly up against major world currencies, and the price of oil is down per barrel. Add these together and the market will drop at the opening bell presuming nothing dramatic happens in the next hour.

Investors are shocked to hear that China will be deliberately working to contain its massive economic growth. It's always interesting to note that something sensible like curtailing a burn out growth rate in favor of something that is sustainable is met with disappointment among investors. They would prefer burnout growth, think about it.

One of the bigger anticipated numbers coming through will be the government's data on jobs in February due out by the end of the week. Its always a telling number but in our election year it will have even more weight by adding to or subtracting from Obama's re-election effort. What you can count on is that if the employment numbers are good or better than expected then the GOTP (Grand Old Tea Party) will be disappointed. That is our miserable political reality.

CNN: Stocks set to open lower

...Chinese Premier Wen Jiabao set a lower target for China's economic growth, underscoring the need to make the country's breakneck development more sustainable.


The (Chinese) government is aiming for economic growth of 7.5% in 2012...


Reports are due Monday morning on the services sector and factory orders.