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Thursday, September 17, 2015

The Market On Thursday

  Good morning. It is 62 degrees and overcast here in the Upper Hudson Valley. The weather logo indicates we are in for a full sunny day. I watched almost all of the debate last night. If there was one candidate that I felt expressed a modicum of reasonable sense out there, it would have to be Rand Paul. Paul was the only candidate with reasonable talking points on domestic issues especially as they pertained to the poor and inner city people along with ways to think about drug use and the war on drugs. I listened to Paul on these issues and thought, hey he seems to get it. No other Republicans got anything, it's all wild stuff surrounding the absurd notion that Obama has ruined America and they are going to fix the disaster. There's lots of bombastic talk with these people about raising the US military from the dead - how absurd, how utterly absurd. Yet GOP people believe this. Clearly this is not the party of factual information, it is the party of pretend and make believe. Incidentally I think Trump's 15 minutes is up. He was ridiculous, beyond ridiculous actually. However, given what I saw and heard last night, I'm not sure if GOP people see and hear in a way that corresponds to normalcy so his ridiculous presence may go unnoticed.

  At 8:50 a.m. ET futures are lower and the price of oil per barrel is down. The market is poised to open lower.

  Today is the day that Janet Yellen will make an announcement on interest rates. I have not read into it deeply but I suspect there is much pressure on her to go either way. My own thought is that if there is a rate hike it will be very soft, like .10% to .25% - something that has less sting. Weekly first time layoff numbers came in at 264,000, so the job market continues to show signs of life.

CNN: 4 things to know before the open
Expect the news (Fed rate hike or not) at 2 p.m. ET, and brace for a swift market reaction.

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