The Market On Tuesday

  Good morning. It is a cool 48 degrees and cloudy with some sun peaking through at 7:45 a.m. here in Upstate NY. I hope you had a good holiday weekend. We did. I'm back to work on this old house spending a few hours each day on remodeling. Right now the guest room needs a severe makeover, so I'm prepping walls with light spackle, sanding, and getting ready to paint. Outside we are working on the garden, we're a little bit behind but by this coming weekend it ought to be in decent shape. An old house is an endless project, hopefully we can maintain endless energy to meet that challenge for a little longer.

  At 7:47 a.m. ET futures are significantly higher and the price of oil per barrel is up. The market is poised to open higher.

  A global rally prompted by statements out of Japan on rates has helped to lift global indexes and we are experiencing that lift this morning in pre-market data. It will be a four day week for investors and they will be parsing all types of data on the economy including another reading of the first quarter GDP. Fears of a pullback are on hold for the morning.

CNN: Stocks: Poised to resume rally

...the Case-Shiller home-price index is due at 9 a.m. ET, and the Conference Board's consumer confidence index will come out at 10 a.m. ET.