Good morning. It is 32 degrees and there is a light covering of snow on the ground here in the Upper Hudson Valley, the forecast predicts a partly cloudy day with temperatures in the high 40s this afternoon. I was watching Saturday's SNL clips, especially the opening segment and I must say, they are really going after Trump. They are undaunted. Trump on the other hand, needed to Tweet that SNL is unwatchable etc etc. He is very offended by criticism and mockery. This new president is going to be facing an unprecedented degree of ridicule and criticism. This is his own doing considering the quality of the campaign that he just ran. He ran on mockery and offensiveness beyond the pale; he established the bar setting at an all time low, and now he will receive the dividend in the form of overwhelming mockery.
At 9:15 a.m. futures are moderately higher and the price of oil per barrel is up closing in on $52. The market is poised to open moderately higher.
Italy is turning into a political and economic mess/basket case. Oil is up due to an agreement to limit production, or so they say, some are still suspicious including yours truly. And it's still looking like we are facing a base interest rate hike from the Fed this month.
CNN:
Italy rocked by referendum; Stocks volatile; Oil gushes up by Alanna Petroff
Investors have bid up the value of oil following OPEC's decision last week to trim oil output. It's a simple case of supply and demand; less oil equals higher prices.
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