Good morning. It is 57 degrees and overcast here in Upstate NY. At this point quite a few trees are back to leave-less nakedness although some still have green leaves. The lawn raking has been in full progress, everybody is out raking. Fortunately we are down to around 11 days till the election. What a miserable spectacle the entire election has been from the outrageous GOTP primary process through the Trump nonsense at present. Recall that the GOTP had a leading candidate every week. Herman Cain, now that would have been fun. We are hearing jaw dropping statements coming out of some of the extreme right wing fundamentalist candidates about women and rape, I mean seriously why do these guys have any problems with outfits like the Taliban? They have so much in common. You can take their statements and make a few keyword substitutions and it sounds like the Taliban, yet these same candidates somehow lack the wherewithal to recognize the similarities. Such is their hubris and determined arrogance. All in all America gets the candidates and politicians it deserves. Indiana if you need a guy who thinks rape is god's plan for creating life, then go for it.
At 8:00 a.m. futures are significantly lower, the dollar is flat or higher against major world currencies, and the price of oil is down per barrel. The market is poised to take a steep drop at the opening bell.
Investors are disappointed in recent corporate third quarter reports. The numbers have been weaker and the market is reflecting this by shrinking. We were warned about this a while back.
Notice that Spain's unemployment rate is now listed at 25%.
CNN:
Stocks to open lower
...the government releases its first estimate of third-quarter GDP growth at 8:30 a.m. ET.
...government statistics showed Spanish unemployment rose to a record high of 25% in the third quarter.
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