The Market On Monday

  Good morning. It is a pleasant 64 degrees and sunny here in Upstate NY. The forecast is for a cooler day after what I experienced as almost debilitating heat and humidity over the weekend. I couldn't even nap well so at one point I rested doing deep breathing to cut the heat misery. It helped a lot. The new dog is still quite freaked by the thunder but one thing that does help is to get her running. It seems to cut down some of her nervous energy so she can relax. We play 'get the ball' in the backyard and I must say she is quite good at it. In a future life I'm thinking she becomes a decent soccer player...

  At 7:45 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  Last Friday we experienced a severe sell off and we wondered if we were going into the expected correction. Could be, who knows really, but today we are set to open higher then the data starts coming in. This would include reports on auto sales in the last month by major auto makers along with data on manufacturing and construction. If you get a chance read Robert Reich's latest article - Economic Storm Clouds Ahead.

CNN: Stocks: Looking for a bounce back

... monthly manufacturing index....construction spending.

Japan's Nikkei) index has lost nearly 12% since its peak in May.