The Market On Wednesday

  Good morning. It is 52 degrees and overcast here in Upstate NY. The days are getting noticeably shorter and the colder part of the Fall is creeping closer. People have their Halloween decorations out and the piles of leaves line the streets in this town. I am still working hard to maximize the temperatures and try to accomplish some more house painting before the snow flies.

At 9:00 a.m. ET futures are modestly higher and the price of oil per barrel is lower. The market is poised to open higher.

Today is the do or die day. Either a deal is cut to raise the debt ceiling or it isn't and we pass into a true catastrophe. It's a remarkable period in American politics and history where a few Republicans are quite willing to subvert the global economy in order to retain the little shitty power they hold in Congress. The hubris is off the charts along with their levels of stupidity and arrogance. The mass anger quotient towards this GOTea bunch is rising.

CNN: Stocks: Prepare for a bumpy ride

A failure to reach an agreement could trigger a default on U.S. debt and chaos in global markets.

...gold prices are edging up as investors seek a safe-haven asset.