Good morning. It is 41 degrees and overcast here in the Upper Hudson Valley. A partly sunny day in the high 40s is expected. The weather logos indicating the 10 day forecast predicts that the temperature one week from today will be in the 60s. Okay that's nuts, very unusual. It will not be a white Christmas. I ended up watching some of the GOP debate. Here's my take - Trump is a nut, all the crazy facial expressions and gestures let alone the words that come out of his mouth - not Presidential material at all but we already know that. He remains an embarrassment. Fiorina, Carson, Christie, and Kasich might as well drop out now. Bush seems like he has already dropped out. Fiorina is the least likable candidate after Trump. Cruz, Rubio, and Paul have a shot at the nomination with Rubio at the top of those three. The only candidate who occasionally said something that sounded logical and vaguely human was Paul. Beyond that, it was a lot of noise, histrionics, absurd claims, and ridiculous posturing. Stick a fork in it, it's burnt to a crisp. If one of these people actually becomes president, it's time to move to Canada.
At 8:20 a.m. futures are moderately higher and the price of oil per barrel is trading around $37. The market is poised to open higher.
Today is the big day. The Fed will in all most likelihood raise the base interest rate by a fraction of a percent. This will be the first rate hike since 2008 when rates were lowered to zero. The period of ultra cheap credit, a method employed to stimulate economic activity in the wake of the Great Recession of Bush The Lesser, is closing down a little bit.
CNN:
Stocks: 3 things to know before the open
The Fed is due to announce its interest rate decision at 2 p.m. ET. Fed chair Janet Yellen will host a news conference at 2:30 p.m. ET to explain the thinking behind the central bank's decision.
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