The Market On Tuesday

  Good morning. It is 34 degrees and sunny here in the Upper Hudson Valley, the forecast predicts a cloudy day with temperatures in the high 30s this afternoon. There is a thin layer of snow out there, Winter is here. Watching the news yesterday, there appears to be more interest in the Russia-hacking-the-election-gate with several people suggesting that Trump is involved. Can it get any uglier? Yes it can.

  At 9:20 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  The Fed begins a two day meeting today and it is generally believed that the meeting will end with the announcement of a base interest rate hike. With the DOW close to 20,000 and unemployment below 5%, yes interest rates will creep up. Trump should bless his predecessor for leaving him with a significantly improved economy. Let's not forget that he convinced his followers that the economy was falling to crap. No doubt he will soon take credit for the economy. Now will Trump screw it up? The answer is not if, but when.

CNN: Fed meeting begins; Bank cuts 14,000 jobs; Beer deal hangover by Alanna Petroff

The Fed has not raised rates since December of last year.

President-elect Donald Trump has nominated ExxonMobil CEO Rex Tillerson to serve as secretary of state.