Good morning. It is 60 degrees and sunny here in the Upper Hudson Valley. We are in for a spectacular late Summer day, there's only a handful left so get outside. Tonight is the night, get your popcorn and prepare for great amusement. The clown car will be on full display tonight in what is euphemistically being called a "debate". No, it will not be a debate, it's more like a shooting range booth at the county fair except the targets are shooting each other as rapidly as possible. There is not one single person up there who does not terrify me when I imagine them as president. This is the worst field of candidates yet, perhaps ever.
At 8:50 a.m. ET futures are flat and the price of oil is slightly higher. The market is poised to open in the flat to slightly higher area.
Aside from a huge beer company merger which is always a welcome thing on Wall Street, Thursday is what everyone is thinking about. On Thursday Janet Yellen will announce whether or not there will be a base interest rate hike. If she says yes, expect the market to drop, if she says no hike, expect the market to rally. End of story.
CNN:
5 things to know before the open
Fed chairwoman Janet Yellen will announce on Thursday afternoon whether the Fed will hike interest rates.
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