The Market On Tuesday

  Good morning. It is 60 degrees and sunny here in the Upper Hudson Valley. A slightly cooler sunny day is expected. Perusing the news I was struck by article at CNN - 1 in 3 U.S. adults have 'debt in collections'. It's easy to understand why this is occurring. Wages are flat, good jobs are scarce, health care even if one has insurance is not affordable, students loans are crippling young people, food prices are beyond ordinary means, housing is extremely expensive, and all of this keeps increasing. We are a nation of debtors. The nation itself is a debtor. A person's worth is now evaluated according to how much they can borrow. What is the worst type of money? It is credit of course.

  At 8:30 a.m. futures are moderately higher and the price of oil per barrel is down. The market is poised to open higher.

  Investors have a lot to chew on. There's the onslaught of second quarter reports, a Fed meeting, and reports on housing and consumer sentiment. Notice that Russia is feeling the heat from the E.U. and Japan, sanctions are coming. One wonders where the pressure on Russia will lead. Unfortunately the Middle East has a lot of warring left in it and that pressure will also effect markets globally.

CNN: Stocks: 5 things to know before the open

European officials continue to work Tuesday on details of new sanctions that could restrict Russia's access to European financial markets, arms and energy technology.

Japan introduced its own sanctions on Russia, largely reflecting previous measures adopted by the EU.