The Market On Friday

Good morning and welcome to the extended weekend. It is 58 degrees and sunny here in Upstate NY. Right now I would say it is gorgeous out with even a tiny hint of some trees wanting to turn to fall foliage colors. Once again I did not go near the GOTP convention preferring to watch paint on the walls age. I am aware of Clint Eastwood's speech and can't help but wonder what is up with Clint. Regardless, I still say Romney wins. The telltale signs of a winner are there at least from the point of view of how the GOTP gets into power. Romney is slightly behind in the polls and that is an easily surmountable hurdle for the GOTP well practiced in the art of voter suppression especially in swing states like Ohio and Florida. Expect to hear the tiniest outrage as swing states end up in Romney's electoral college number and naturally the MSM will play right along because once a new king is crowned decorum dictates that we all abide. Also Romney is outspending Obama, his cadre of billionaire backers is wider and they have deeper pockets, think Citizens United. Simple fact, the winner is the guy with the most money. That strain in America goes back to its inception, think Harvard which would select the top graduating student based on his family's wealth status.

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

At 10 a.m. Bernanke speaks about Fed plans for how to stimulate or not stimulate the American economy. Curious choice of words - stimulate - would you agree? If the man speaks and the words are parsed into the shucks zone, one would suspect that the indexes will drop. It's a wait and see situation but it would appear that in the pre-market mode of thinking, Bernanke is expected to kill it.

CNN: Stocks: All eyes on Bernanke

Bernanke will deliver his highly anticipated speech on the economy in Jackson Hole, Wyo. at 10 a.m. ET.

Euro area unemployment for July was unchanged from June, holding at a record-breaking 11.3%...