The Market On Tuesday

  Good morning. It is 55 degrees and overcast here in Upstate NY. We've had several days in a row of cloudy damp weather, so we are all a little soggy. The weather logos predict more of the same. Nothing quite like a stuck weather pattern for a few weeks on end. The tilting garage I am working on got another crank of the wrench and I'm happy to report the garage is still standing. Have you noticed a wave of sleepiness descending on everyone, everybody is yawning lately.

  At 8:00 a.m. futures are modestly higher, the dollar is mostly down against major world currencies, and the price of oil is slightly higher. The market is poised to open a tad higher.

  Investors cheered on Monday's news that the US manufacturing sector showed an increase in production. I know, it's surprising news and it could have some coat tails.

  Otherwise, one suspects there is a bit of a holding pattern going on with the first debate occurring Wednesday night, followed by the government's numbers on job creation for September on Friday.

CNN: Stocks set for opening gains

...Moody's claimed Spain's banks are at greater risk of a capital shortfall than the government estimated last week.

In the United States, auto sales will be in focus, with carmakers set to release their September reports.