Good morning. It is 30 degrees and sunny here in Upstate NY. Yes that would be a genuine brr, it's cold out there and it's time to seriously break out the cold weather clothes. It appears to me that what is occurring in this country is an even greater divide. We are moving into the situation where the red states will be behind in health care, their obesity rates are higher, education is lower, poverty is greater, and an all around need for funds to support people is greater. What we have here is a Western Europe and Eastern Europe situation, from the point of view of people, ordinary people minus the specifics of politics and location. The Tea party is moving part of the country into more severe economic pressure under the guise of freedom, and freedom in this case seems to mean an unwillingness to think of anyone but oneself, that somehow roughing it alone is good.
At 8:45 a.m. futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.
However you want to parse it, the DOW is perched to move towards 16,000. I know this is surprising to many but the people involved in equities are seeing a tremendous boost in value. Jobless claims for the week are at 350,000 so that is adequate enough to allow for the morning's opening gains to occur.
CNN:
Stocks poised for early gain on China data
Chinese factory activity hit a 7-month high in October...
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