The Market On Monday

  Good morning. It is 45 degrees and sunny here in the Upper Hudson Valley, the forecast predicts rain later on and temperatures in the low 70s this afternoon. I hope you had a good weekend, I did indeed. Well the day is starting off with a real bang. Looks like the presidential race has tightened even more, and doesn't that just make you feel all warm and cozy. Tonight is, as we know, the big night, with debate number one on tap starting at 9 p.m. ET. Lots of words have been shed in anticipation of this event, I expect a real storm. I wish I had something formidable to say here, but I don't. I believe the country needs to lose its collective mind every decade and blow off a lot of crazed steam. If the country votes in Trump, hang onto your hats, it's going to be turbulent and especially unpleasant. The question is, will the country survive? I suspect the wound will be long and deep, and unfortunately the issues that are really pressing the country and the globe will lay around collecting dust.

  At 9:00 a.m. ET futures are moderately lower and the price of oil per barrel is up. The market is poised to open moderately lower.

  Investors will indeed be watching the debate. I will easily predict the country hits a major recession with Trump as his main idea appears to be to run up the national debt. That should essentially kill off what remains of any social programs, and say bye bye to SSI as well. It's going to be a mess.

CNN: Deutsche Bank slumps; Clinton vs Trump; OPEC gathers by Alanna Petroff

Banking stocks are among the main losers right now.

OPEC nations and other global oil producers will be huddling at a meeting in Algeria this week.