The Market On Tuesday

  Good morning. It is 46 degrees and sunny here in the Upper Hudson Valley. We are expecting another high 60s degree day here in November. I will be voting later today, I hope you have already or will be voting today. The election is mostly about local stuff. As I am essentially a political moderate realist, in other words I accept the fact that we have a dysfunctional two party system where the GOP has abnegated its interest in compromise, I'm suspicious even of local GOPers although the vast majority of these people in my community are certainly decent good hardworking people. I just don't understand the connection to the GOP at this point. It strikes me that the GOP is functioning like an explosive rocket in mid air without a guidance system. Even worse the people behind the broken guidance system are hellbent closed minded idealogues utterly incapable of the compromise necessary to run an alleged democracy. This is of course one of the reasons why we call our political system a plutocracy with democratic features.

  At 8:30 a.m. ET futures are moderately lower and the price of oil per barrel is up. The market is poised to open lower.

  The article indicates that the day is mostly about more third quarter corporate earning reports. I thought last night's article from Market Watch on EXXON's breakout earnings report was important. Although predictions on commodities are always questionable, the report might indicate that oil has bottomed out, in fact if investors are bullish on EXXON, that means they are bullish on oil. With several OPEC countries now reporting dwindling cash reserves one suspects they may long for the days of higher oil prices. In my opinion one of the best ways to speed up the movement to renewable energy sources is if the price of oil is prohibitive. When I look around it strikes me that cars are bigger than ever and mileage per gallon although improved is still overall bad and wasteful.

CNN: Stocks: 4 things to know before the open

Shares in Activision (ATVI, Tech30) are rising almost 3% in premarket after it announced it is buying Candy Crush maker King Digital (KING) for $5.9 billion.