The Market On Friday

  Good morning. It is 54 degrees and raining cats and dogs here in Upstate NY. The morning walk was a soggy one with rain gear that doesn't quite do the trick. I even had on the rain pants over regular pants and I still got soaked. LL Bean needs to improve on their rain gear line or maybe I need to look for it some place else. Noticing the latest polling data we see a tie with Nate Silver still saying the tie goes to Obama. Notice that conservative outlet Gallup has Romney up by 7 points. Even I don't believe that one. Be ready for a Romney presidency, it could happen. First off another thing I don't believe is that Romney creates 250,000 jobs per month, now that's baloney.

  At 8:00 a.m. futures are flat, the dollar is mostly up against major world currencies, and the price of oil is down per barrel. The market is poised to open in the flat to lower range, quite similar to yesterday.

  Investors will spend the day parsing more third quarter corporate reports along with data on the housing sector. Notice that the tech sector contracted a bit in the last quarter with less than stellar reports from Google, Intel, Microsoft, and AMD. Could it be that the interest in the smart phone is replacing the personal PC. Amazing, the personal computer will go the way of the accordion.

  Fortunately the weekend is upon us, and this election, it just can't come soon enough.

CNN: Stocks to open lower

...existing home sales for September at 10 a.m. ET.

...on the lookout for any news out of a summit of European leaders in Brussels.

U.S. stocks fell Thursday as investors focused on the latest corporate results and mixed economic data.