Good morning. It is 44 degrees and cloudy here in the Upper Hudson Valley. A rainy day is expected. Wow, did you see 'The Donald Meltdown' in front of an Iowa crowd of his constituents? Call it 'Donald-gate'. I almost felt bad for the the guy, he sounded and looked like a four year old that just had his most prized toy taken away, poor baby. He was literally having a tantrum in front of a crowd and the crowd loved it. It kind of makes you wonder exactly who is supporting this guy. In olden times, times of yore, candidates would get in front of a crowd and rally them around brilliant ideas, I guess that's significantly out of vogue in the modern age. The fundamental problem still remains, if The Donald disappears, take a look at who is standing in line behind him. It seems appropriate that this is right around Halloween, it's like a waiting line of monsters all vying to get the candy except in this case the candy is the presidency.
At 9:00 a.m. ET futures are slightly higher and the price of oil per barrel is up. The market is poised to open slightly higher.
In my opinion it will be a statement from the Fed later this afternoon on the base interest rate that is the most salient potential market mover of the day. My sense is that it will be a no news is good news event. Prediction - base interest rates remain as is.
CNN:
Stocks: 5 things to know before the open
The Federal Reserve will issue its latest decision on interest rates at 2 p.m. ET.
"A change in policy is not, perhaps, terribly likely..."
The world is waiting for the Fed to raise rates but it's been holding back over lingering concerns about the strength of the U.S. economy as global growth slows.
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