The Market On Tuesday

  Good morning. It is 33 degrees and cloudy here in Upstate NY. Not quite as chilly as it was yesterday and so the morning walk was brisk and quick. I'm watching CNN as I write and its all about the fiscal cliff. How many times between now and January 1st and beyond will you hear the term fiscal cliff. Politics is a miserable thing, I truly am sick of hearing these people. The Republicans appear to be returning to their intractable selves, woe is us. It's a disgrace.

  At 8:00 a.m. futures are flat, the dollar is up against major world currencies, and the price of oil is up. It's hard to say how the market will open but right now the variance would be small from yesterday's closing number up or down.

  Investors are watching the never ending ongoing eurozone debt crisis and negotiations now that Congress is back in session over the fiscal cliff. This will be the menu for the next couple of months - eurozone and fiscal cliff.  Get used to it.

  Investors will also be looking at data on housing, manufacturing, and my favorite, consumer sentiment. I recommend we become a nation of sentimental consumers.

CNN: Stocks: Choppy trading ahead

... Europe's worsening economy next year will slow U.S. growth more than previously forecast.

...reports on consumer confidence, housing and manufacturing due out in the morning.