The Market On Tuesday

Good morning. It is 69 degrees and overcast here in Upstate NY. We are closing out another month today, it seems like the Summer is flying by, slow it down please. People are already planning out the Fall, yikes. I have mentioned it on this blog a few times but for those interested in learning check out Coursera. Someone has put together teachers from very good universities and colleges to offer free online college level courses on a variety of topics. I am presently working through a course on finance and I must say it is very well done, the teacher is very joyful and organized, plus the information so far comes at you in decent increments. Basically I am watching video segments and taking notes, then I get tested when I complete a week's worth of information. It's good.

At 8:20 a.m. futures are modestly higher, the dollar is mostly down against major world currencies, and the price of oil is up per barrel. The market is poised to open slightly higher.

Yesterday's market reasoning remains for today, investors are awaiting the results of a meeting between the European Central Bank and the Fed on how to 'stimulate' the economy. As I mentioned yesterday this probably means some type of quantitative easing or literally the pumping of fresh cash into the banking system. Seriously what else can be determined in a few days - some sort of detailed plan on how to create jobs in the E.U., not going to happen. Europe is in a tough spot, with an 11.2% unemployment rate and a 2.4% inflation rate. Relatively speaking we have it better in the USA.

CNN: Stocks: Investors await central bank meetings

...readings on consumer confidence, spending and income.


...(on Wednesday) whether the U.S. Federal Reserve and the European Central Bank will take new stimulus measures to boost the economy.


...all three indexes are poised for mild gains for the month (July).


The S&P/Case-Shiller index of home prices for 20 cities will also be released before the opening bell...