The Market On Monday

  Good morning. It is 43 degrees and overcast here in the Upper Hudson Valley. It looks like we are in for a rainy week but the forecast is for the temperature to go up into the 80s on Wednesday. I hope you had a good weekend. I took a little respite from blogging and a respite from the news in general. However I did watch the Knicks' second preseason game on Saturday night and I must say they looked pretty good.

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

  As you know we are into a full market correction. Today's opening is really a big question mark. Allegedly investors are hitting the panic button and no one knows when the correction will subside. However, this week there will be a full contingency of third quarter corporate reports and I'm curious to see how those reports will fly in the face of a market correction. The stock market is a fascinating thing, not only is it affected by actual data but it's also greatly affected by emotion.

CNN: Stocks: 5 things to know before the open

Markets are particularly unnerved by the Federal Reserve's plans to end its unprecedented stimulus and low interest rate policies.

Some of the biggest companies in the U.S. are up to bat with third quarter earnings this week.