The Market On Monday

  Good morning. It is 68 degrees and it is rainy here in the Upper Hudson Valley, the forecast predicts a cloudy day with temperatures in the high 70s this afternoon. I hope you had a good weekend, mine was busy with all kinds of activities. We had three terrorist style attacks over the weekend and CNN is showing pictures of a suspect in the NY and NJ bomb attacks. Yup, it's a Moslem dude and I fully expect to see more attacks like this for the rest of my natural life. No present or future president is going to stop this.

  At 8:45 a.m. ET DOW futures are moderately higher and the price of oil per barrel is up. The market is poised to open moderately higher.

  Next week we will see and hear the first presidential debate, and there will also be a special meeting of oil producing countries. The meeting is allegedly about limiting oil output and thus elevating the price of oil globally. Personally I doubt anything will come of it, but the next time they meet in say three to six months, then something might happen. Meanwhile oil producing countries are falling into recession as oil prices decline. Nigeria is presently a regular economic recession basket case.

CNN: Wall Street unfazed by weekend bomb attacks by Alanna Petroff

Crucial transportation links into New York City were closed early Monday after a backpack containing up to five devices was found in Elizabeth, New Jersey.

OPEC and other producers will hold an informal meeting in Algeria next week to discuss the possibility of capping oil production in a bid to boost prices.