Good morning. It is 60 degrees and rainy here in Upstate NY. It's really something, when I look at the forecast it predicts rain on most of the days in the upcoming week. This is climate change. If you watched the news yesterday you saw how Cantor's defeat was the main topic all day long. I have to reiterate, Cantor was horrible, downright sadistic in the worst sense of sadism. His replacement could truly be worse, but at this point those policy positions (and that is putting it politely as it's more like outright stupidity) are utterly out of the main stream. I listened to Obama's talk on American shootings and I thought he articulated the tragedy of it very well along with the inability of Congress to do anything to improve the situation. The NRA is too powerful and can sway elections, and the politicians are spineless up against it. So, let's place the blame where it belongs - the NRA and our spineless government. Seriously, you can't even get background checks put into place - disgraceful.
At 8:30 a.m. ET futures are flat and the price of oil is significantly higher per barrel. The market is poised to open flat to slightly higher.
It is the violence in Iraq, AKA the tragedy of Bush, Cheney, and the neocons, that is pulling on the price of oil. Some investors are expecting the price to rise as high as $150 per barrel. Do you think that's going to raise the price of gas...
CNN:
Stocks: 5 things to know before the open
Commodity experts are worrying about how developments in Iraq could affect the oil market.
At 8:30 a.m. ET, the U.S. Department of Labor will release its weekly report on initial unemployment claims...data on import and export prices from May...the U.S. Census Bureau will release May's retail sales numbers.
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