The Market On Monday

  Good morning. It is 65 degrees and overcast here in the Upper Hudson Valley. Rain and thunderstorms are predicted for the day. Speaking of thunderstorms, this Summer has been chocked full of them. Parts of yesterday and all through last night we were literally getting hammered with thunder, lightning, and rain. The new dog is afraid of the boom sound so she is having a rough Summer. We've learned a little bit about how to calm her, lots of dogs do this, some get very active from the sound. A neighbor's dog once literally jumped out of the window out of fear of thunder. Fortunately it was on the ground floor and the dog was fine.

  At 8:45 a.m. ET futures are slightly down and the price of oil per barrel is down. The market is poised to open lower.

  It looks to be a busy week for investors. Beyond the second quarter reports, there will be numbers on the GDP, a Fed policy meeting, and eventually numbers on employment in July. There is a lot to examine and the results will affect the market's direction and that goes without saying. Relatively speaking and in spite of Friday's 130 point drop, the indexes are fluffy.

CNN: Stocks: 4 things to know before the open

...the gross domestic product and monthly payroll reports due later this week, as well as the meeting of the Federal Reserve policy meeting scheduled for Tuesday and Wednesday.