Good morning. It is 37 degrees and presently sunny here in the Upper Hudson Valley. It's likely we will have an afternoon with temperatures in the low 40s. Looking ahead the forecast is indicating that the temperature goes into the 50s on Monday. Let's just say that is very unusual for this time of year in this part of the world. Ironically Syracuse which is a scant drive west of here has one of the top five snow accumulations up to this point in the US. Syracuse also gets hit with the Great Lake effect cold while we do not. So Trump is skipping the debate, big deal. It's not really a debate either, more like a fear mongering mess actually. Why should Trump attend anyhow, he already knows everything and his judgment is impeccable, godlike in so many ways, the god of anger...
At 8:50 a.m. ET futures are moderately lower and the price of oil is down. The market is poised to open lower.
Although Apple just presented a record breaking quarterly report, the company is resigned to less demand in the upcoming quarter. This fact coupled with the ongoing oil oversupply/price deflation is being given as the reason for this morning's slump. And they say the Saudis are our friends...
CNN:
Oil and Apple sour stock market mood
Apple said it expected sales in the current quarter will fall for the first time in 13 years. Its shares are dipping by 3% ahead of the open.
The correlation between oil price moves and stock markets has been jarring for many long term investors. U.S. oil futures were down nearly 4% around $30 a barrel.
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