The Market On Monday

  Good morning. It is 70 degrees and rainy with humidity here in Upstate NY on this first day in July. Can you believe it, it's July 1st! Time is flying, that subway is moving fast. This is the Summer of Rain and time speed for this area. Now if we could only collectively slow time down a little bit so that we exist in July for several months, then we got something. Another busy day is occurring here, the activity level is high. I've been simultaneously remodeling a small bathroom, a hall which includes taking a wall down to open up the house, and a bedroom. Today most of that has to be close to being finished. Wish me luck.

  At 8:40 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  June was a weak month for the market, still the second quarter ended with impressive gains. Where are we at? July is opening with a morning gain but the way the market has been responding that could fade, or not. It will be the second quarter corporate reports that will drive the beginning of this months. Look for more "signs that the recovery is gaining" or it's crapping out. The corporate reports will tell the tale.

CNN: Stocks: Welcoming the 2nd half

...U.S. manufacturing sector for June. Also at 10 a.m., the U.S. Census Bureau will release its report on May construction spending.

Asian markets ended mostly higher...