The Market On Monday

  Good morning. It is 69 degrees and hazy cloudy here in the Upper Hudson Valley. The forecast has it being a hot day with the temperature up in the high 80s with plenty of humidity. Looks like we are in for a very hot humid week. I hope you had a good weekend, mine was excellent. I got to a lot of house chores over the weekend including getting a new light up by the driveway, a yard/driveway light. The old one rusted out and I finally got a new one together, made it myself with pressure treated wood, pine, and an old copper light that came off the house when we bought the place and did some immediate upgrades.

  At 8:40 a.m. ET futures are significantly lower and the price of oil is down now below $45 a barrel. The market is poised to tank at the opening bell.

  Chinese stocks are once again floundering. Add into that the great concern over the eventual hike to the base interest rate and bam, the indexes are down. On Friday the federal government will release its figures on employment creation in the month of August, good numbers will speed up the rate hike, bad ones might postpone the hike a bit. This rate hike fear has been going on for years now, can we get over it already. It's been nice being able to finance stuff with 0% interest over 3 years and such but let's move on.

CNN: Six things to know before the open

Chinese stocks fell again Monday, after a wild ride last week, although the losses were relatively modest.

Speculation about when the Fed will raise interest rates is growing. The focus will be on Friday's crucial jobs report.