The Market On Thursday

  Good morning. It is 77 degrees and sunny here in the Upper Hudson Valley. We are into the golden days of August, the bugs are humming up a storm, it's humid and hot, and the fresh food is outstanding. We have a conflict once again arising in the Koreas. That hot spot like many we can think of around the globe, will seemingly never find a resolution, not in our lifetime.

  At 8:40 a.m. ET futures are significantly lower and the price of oil per barrel is down yet again. The market will tank at the opening bell.

  We have a confluence of strong global issues, all related, that are pounding equities as of late. Primarily it is China's economic upheaval and the related oil glut. Recall that oil still forms a central hub for the equities market. I believe we see this present confluence continue for the rest of this year and then some. What is not causing a global meltdown is the US economy is presently in a better stable place. One must presume that there is a trail of hurting bodies as a result of this all around the globe.

CNN: Stocks: 5 things to know before the open

Crude prices are under pressure, losing 0.7% to hover just below $41 a barrel, after plunging to a six-year low on Wednesday. Oil has been falling in recent weeks as the supply glut worsens and demand remains sluggish. Weak oil is ringing alarm bells for investors about the health of the global economy.