Good morning. It is 7 degrees and overcast here in Upstate NY. We are back to frigid temperatures, Winter is back with a vengeance. The long range forecast is not very optimistic either with the temperature pattern remaining for a while. I've been very interested in following Bridgegate and now Hobokengate. It's a remarkable study because it's pealing back the presentation layers of Christie's administration and revealing it's ugly inner child. At this point what we have is a lot of speculation from the media and a lot of defense from Christie's inner circle. It will be the results of the investigation that will present the facts meanwhile there is a battle underway to attempt to sway public opinion. We are innocent until proven guilty, yet Christie is allegedly taking hits in the opinion polls.
At 8:30 a.m. ET DOW futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.
We are in the corporate report earnings period and this morning there is a wave of optimism pushing the indexes. Investors expect to see profitability in this year and equities are expected to remain fluffy. Meanwhile Main Street is weighed down by poor job growth, poor jobs, burdensome medical expenses, poor retirement funding, miserly minimum wages, and all sorts of social distress in the form of miserable and overly expensive food, crappy cars, and politically induced traffic jams.
CNN:
Investors upbeat with earnings in view
This year is expected to be another good year for stocks, but perhaps not as strong as 2013.
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