Good morning. It is 67 degrees and sunny here in the upper Hudson Valley. We are into a stretch of amazingly gorgeous weather. I must say last night from roughly 6 to 9 in the evening was magical outside. Everyone was commenting on how ideal it was. Future president Donald Trump is now claiming that he will tone down his rhetoric when he is elected. Good to know, would you agree. In my opinion it was the vice presidential run of Sarah Palin which cleared the way for a Trump presidency. She has a similar list of disqualifications that appeal to the American idiocracy - no experience, no diplomacy, lots of bravado, reckless word salad impugning in the most childish way, a complete inability to listen and respond with even a smidgeon of wisdom, and on and on and on. What we have here is the present time bottom of the candidate barrel. Remember in American politics there is no bottom bar low enough that cannot be lowered further. Expect more and more utterly unqualified candidates in the future.
At 8:45 a.m. ET futures are slightly lower and and the price of oil per barrel is up. The market is poised to open lower.
First time weekly layoff numbers are at a level not seen since 1973, 255,000. Let me just say this, it was pretty hard getting a job anywhere from 1975 to 1980. Jimmy Carter was trying out his version of the New Deal. Regardless, today will be a day of many second quarter corporate results. It will be interesting to see how the bottoming out of oil prices have affected the corporate ledger.
CNN:
Stocks: 5 things to know before the open
As it stands now, initial and continuing unemployment claims are at the lowest levels seen in roughly 15 years.
Gold prices are up 1% this morning, but are still trading at five-year lows.
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