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Tuesday, July 28, 2015

The Market On Tuesday

  Good morning. It is 74 degrees, sunny, and humid here in the Upper Hudson Valley. We are in for a very hot muggy day. We see that Trump is now under the scrutiny of the people for his alleged treatment of his first wife. His defense that you can't rape your wife is patently false. There is spousal abuse occurring frequently in our society - a good friend of mine works in that field, the details are ugly. A person's family life can be very different of course from their public life. Trump's public life is one of aggressive assertions as he directs racist sentiment to immigrants and brutal childish uncalled for remarks to his opponents. Yet, some people exhibit similar public behavior and then as family members they are perfectly content and not violent at all. So for the time being, I have no judgment. On the other hand a lot of time where there is smoke, there is fire. You know this as well as I. Let's see how Trump handles the pressure.

  At 9:00 a.m ET futures are modestly higher and the price of oil per barrel is slightly up. The market is poised to open higher.

  China's dramatic market nosedive on Monday is slightly calming today. The overall mood is calm. The equation is clear; as China's economy slows down and it's financial market is still in the dust of an explosion, China's need for oil diminishes. This equation adds further pressure to the global oil market as the oil glut is even larger with less demand from major goods producer China. I've read that oil is expected to hit $33 a barrel. Consider buying some at that price, it will be worth more eventually.

CNN: Stocks: 5 things to know before the open
"For [traders] the equation is very simple, if there is no demand in China, this spells trouble for the commodity market..."

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