Wednesday, September 28, 2016

The Market On Wednesday

  Good morning. It is 57 degrees and mostly sunny here in the Upper Hudson Valley, the forecast predicts a partly sunny day with temperatures in the 70s this afternoon. The consensus remains that Clinton won debate one. The horribly immature and decidedly obnoxious Trump spent a good part of Tuesday creating a series of 'reasons' why he performed so poorly. From a bad microphone, which we all heard loud and clear - unfortunately, to a bad moderator, who was about as non present as a person could be, Trump ran the gamut of nonsense. Then he doubled down on his repulsive sexist criticism of Alicia Machado. The man is hopelessly immature.

  At 9:15 a.m. ET futures are ever so slightly higher and the price of oil per barrel is up. The market is poised to open slightly higher.

  The oil talks in Algeria appear to be ending as everyone predicted, with nothing on the table about limiting oil supplies. The can was kicked down the road to November.

CNN: China IPO flop; big day for takeovers; oil still in the spotlight by Alanna Petroff
Hopes for an agreement to freeze production in an effort to boost prices faded on Tuesday. Saudi Arabia said a deal may be possible by November, but key details still need to be worked out. U.S. crude futures were up 0.4% after slumping Tuesday at about $45 a barrel.

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