Good morning. It is -6 degrees and sunny here in Upstate NY. It is dangerously cold out there so bundle up and please stay warm. We will take the cold in exchange for the fact that we have completely missed the snowstorm that has blanketed directly south of us and all over the Northeast. In fact at the moment I would say there's only a 10% covering of snow here and there, most lawns are browned out grass now frozen solid. I purposefully turned on Rachel Maddow last night because I'm so into her coverage of Christie. Unfortunately she went into in-depth coverage of the other hot GOP scandal with Virginia's former governor under indictment. Bob McDonnell really knew how to milk his position of power. The material bribes and such that he accepted, err allegedly accepted, are ridiculous. I'm betting he goes off to prison.
At 8:25 a.m. ET futures are slightly lower and the price of oil per barrel is down. The market is poised to open in the mixed area.
Investors have been underwhelmed by corporate earnings reported so far. The DOW has dropped some and it is the continued reviewing of fourth quarter corporate earnings reports that will move the market today and into the near future. Still the prediction for overall corporate growth is slightly optimistic.
CNN:
Stocks: Uneasy investors eye earnings
...corporate earnings remain in focus.
Overall, earnings are expected to be up 5.9% in the fourth quarter for the companies in the S&P 500, according to FactSet Research.
2 comments:
Actually, I'm happy we got snow. When it gets this cold a blanket of snow on the ground actually keeps ground heat in and allows plants some insulation. A layer on your roof also does something similar. Its 6 above along the coast this morning, but wind chills make it seem like 10 below! 3 days ago it was 52 above.
Okay, you guys can join the club! It's 3 degrees here at noontime. It's ridiculous out, dangerously cold. But we like to see a coating of snow for the same reasons, it is insulation for the roots. You can always tell whose house is best insulated bacause the roof has a thick layer of snow on it.
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