The Market On Thursday

  Good morning. It is 55 degrees with dark clouds here in Upstate NY. Saw the chiropractor yesterday and got readjusted as they say. Now if he could only readjust this old brain, wouldn't that be great! I see that Obama is allegedly opening up a little bit of a lead over Romney in Ohio and Florida. Why is it that every election boils down to how people vote in Ohio and Florida. There's something about the hopeless entrenchment of red versus blue that is horribly inadequate.

  At 8:10 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 higher.

  Investors are pleased with what appears to be something similar to quantitative easing occurring in China to stimulate that country's slightly contracting economy. Simultaneously the crap is really hitting the fan in the eurozone as massive protests continue over austerity measures in Greece and Spain. As we have said before, this is the economic diet for the unforeseen future. At some point the news will drift away from the eurozone economic crisis but not for a long time.

CNN: Stocks look for boost from Asia

The People's Bank of China has injected a net ¥365 billion ($58 billion) into money markets this week...

...yields on 10-year Spanish bonds shot up to 6.06% Wednesday after the leader of Catalonia called for early elections...

...report on durable goods orders...

...report on pending home sales...