The Market On Monday

  Good morning. It is 61 degrees and sunny here in the Upper Hudson Valley, the forecast predicts a partly cloudy day with temperatures around 70 degrees this afternoon. I hope you had a good weekend, mine was busy with lots of chores and activities. Well, what a weekend it was indeed. The New York Times released a bombshell article on Saturday night, revealing that Trump more than likely has paid zero in taxes over decades. It's been a scathingly bad week for Trump, his jaw dropping abysmal debate performance panned by all as perhaps the worst presidential debate performance in modern times, then his bizarre war with Machado culminating in his adolescent early morning crazed Twitter storm, and then the topper - dude pays zero in taxes and writes off a billion dollars in 1995. But you know what, American people don't pay attention to anything, so until this mess is finally mercifully over on Election Day, he still has a chance of winning but admittedly, his chances right at this very moment are diminished. What on earth will this week bring.

  At 8:50 a.m. ET futures are slightly lower and the price of oil is up now trading just below $49 per barrel. The market is poised to open slightly lower.

  The English pound is under pressure this morning as the country begins a clearer discussion of its exit from the E.U. With the devaluation of the pound the British are now at a bit of a global disadvantage - prices for foreign produced goods will become more pricey and the companies that produce those goods will eventually see less sales, less sales means more unemployment, so those Trump supporting Americans cheering the Brexit might want to rethink their celebration.

CNN: Brexit plan hits pound; ING cuts 5,800 jobs; Tesla delivers by Ivana Kottasova

The pound slumped 0.8% to $1.28 on Monday after Prime Minister Theresa May said the U.K. would begin the formal process of leaving the European Union by the end of March 2017.

The currency is now hovering just above the 30-year low it hit earlier this summer following the Brexit vote.