At 8:40 a.m. ET futures are modrately higher and the price of oil per barrel is down. The market is poised to open higher.
It will be a telling week for investors as a bevy of second quarter corporate reports take center stage. It should become clearer by Friday how well corporate America is doing and that reflects on the value of equities. So it's time to watch and see what happens. I need to reassert my personal opinion that to a great extent the direction of the market and in particular when it goes higher, does not correspond to the economy on Main Street. When Wall Street is blazing, Main Street can remain static. However the opposite does not hold true. When Wall Street tanks, Main Street feels it real bad.
CNN: Stocks: 5 things to know before the open
China's economy is in danger of missing its growth target as risk balloons in the country's real estate sector, according to a CNNMoney survey of economists. China is due to publish second quarter GDP data on Wednesday.
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