The Market On Monday

  Good morning. It is 65 degrees and sunny here in Upstate NY. The weather logos are indicating more sunny days than rainy ones for the week. I still feel pretty soggy from last week. As a fan of basketball I am very much enjoying seeing San Antonio win the finals championship series over Miami. This was a case where strong fundamental basketball and a squad of confident players beat a team consisting of super star athletic talent, in short - fundamentals versus extraordinary athleticism. It is proven over and over again, basketball is a team sport.

  At 8:35 a.m. futures are modestly lower and the price of oil per barrel is higher. The market is poised to open lower.

  Investors are somewhat rattled by the deterioration and warring going on in Iraq. Thank the neocons, GW Bush, and Cheney for that one, as the Bush administration used the foresight of a flea when invading Iraq back in 2003. Mission accomplished indeed. The latest war in Iraq is affecting the price of oil. One would expect to see this reflected at the pump eventually.

CNN: Stocks: 4 things to know before the open

...oil prices were on the rise as militants extended their control in Iraq.

The Federal Reserve will discuss monetary policy on Tuesday and Wednesday.