The Market On Monday

Good morning. It is 54 degrees and lightly raining here in Upstate NY. I hope you had a good weekend and if you live in the area it looks like we are in for a wet week. Yes, I am looking forward to some hot sunny days too. Well we had a terrific weekend and accomplished a lot of home improvement type of activity mostly surrounding the outside landscaping. The back patio has been revived and I can foresee some very nice parties taking place out there over the warmer months.

At 8:20 a.m. futures are flat, the dollar is mostly up against major world currencies, and the price of oil is down per barrel closing in on $80 per barrel and that is surprisingly low. Notice that gas has not followed this trend, gotta make those record breaking profits don't we. Regardless the market is poised to open flat to lower. Let's gird our loins for the worst, the bleeding is not over by any means.

Investors are now worried that the global economy is falling back into a global recession. Europe is a mess, China and India are having conniptions, and the USA although probably better than the aforementioned is recovering at a snail's pace.

The overall take I get from this is that the world economy is contracting and that we are in for a flat period. On the other hand and I've said this many times, can the world economy always grow? That does not compute.

CNN: Stocks: Nervous trading ahead for investors

Over the weekend, billionaire fund manager George Soros said it's up to the German government to help "reverse the current trends" and they have a three-month window to do so.


There are also worries about slowing growth in emerging markets like China and India.


A report on April factory orders in the U.S. is due on Monday.


Oil for July delivery fell 93 cents to $82.30 a barrel.