The Market On Monday

  Good morning. It is a cool 44 degrees and it is hazy sunny here in the Upper Hudson Valley. It looks like we are in for a week with temperatures now down into the 60s but there will be sunshine. Enjoy the pleasant weather while it lasts, just around the corner is snow! I hope you had a good weekend. I had a terrific weekend, my ensemble played in a very friendly wine bar before a very receptive and appreciative group. The vibe was festive. Every once in a while musicians get the right mix of a receptive crowd when they perform, and when that happens it's a party.

  At 8:45 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  Very soon the corporate report season begins once again, this would be third quarter reports. According to some of the reading I was doing over the weekend, it is corporate reports that will really matter because with China dragging, with commodities in disarray, and with the ultra intense political mess in Washington created by our extremist right wing friends, the market is very sensitive and in correction mode. There may be a few reasonable days here and there, but the trend is down.

CNN: 4 things to know before the open

On the economic front, the U.S. Institute for Supply Management will post monthly data about the performance of the service industry at 10 a.m. ET. Growth in services scaled back slightly in August after an unusual boost in July.