Good morning. It is 44 degrees and hazy sunny here in the Upper Hudson Valley. A possibly rainy day later on, that stays in the high 40s is expected. I watched some of MSNBC's Lawrence O'donnell show last night. Some very salient information was getting thrown around and here's the gist of it. Reagan won with a landslide in 1980, he gathered in 59% of the White vote and that threw him into the White House. Romney gathered in 59% of the White vote in 2012 and lost in a near landslide. In fact, Romney actually had bigger numbers than Reagan with the White vote! The point is that a presidential candidate cannot win with the White vote alone, he or she needs the Latino, Black, Asian, and White vote to win. Just think about which presently leading candidates are gathering in which vote.
At 9:00 a.m. ET futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.
It's very simple, oil is rebounding in price and has breached the $40 per barrel threshold. Will oil remain at this price? I suspect it will not but eventually it will return to this level and exceed it. Notice that gas prices are also rising. I saw premium in my community last night at close to $2.50 a gallon.
CNN:
Stocks: 4 things to know before the open
The rebound has been driven by a spike in oil and fading fears of a recession in the U.S. Oil has bounced more than 50% off its low to trade around $40 a barrel and the U.S. economy continues to grow, despite the global slowdown.
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