The Market On Tuesday

  Good morning. It is 41 degrees and cloudy but dry here in Upstate NY. I was out earlier in the pre-dawn dark taking my brisk morning walk. It's an adjustment getting used to less daylight, we miss the light. I only watched the first three exchanges of the debate and I saw Obama go on the offensive right off the bat. We're reading that the general consensus seems to be that Obama won the debate. Romney's first debate performance has paid off in droves for his presidential campaign, the proof is in the numbers. Romney has had much momentum over the past few weeks and allegedly Obama still has a slight electoral college edge. I am paying more attention to Nate Silver's NY Times blog regarding polling. Everything else seems too sketchy right now.

  At 7:25 futures are significantly lower, the dollar is mostly down against major world currencies, and the price of oil is down per barrel. The market is poised to drop at the opening bell except...

  Investors will be getting more third quarter corporate reports right up through the opening bell. Can those reports reverse the present deep drop in the indexes. Possibly, but as we know Wall Street is unpredictable. What we do know is that investors will be parsing many corporate third quarter reports this week and that overall profits and growth are down. It could be contraction time.

CNN: Stocks: Earnings weigh on investors

...results due ahead of the bell from a variety of firms including 3M, UPS, and DuPont.

...Apple is expected to unveil its iPad mini at an event in California at 1 p.m. ET.