At 9:25 a.m. ET futures are slightly higher and the price of oil per barrel is up. The market is poised to open slightly higher.
Notice that oil is now trading at $53 and change, that is relatively high for the last two years. Italian bank Monte dei Paschi is in trouble and looking for a bailout. The bank was founded in 1472 and is the world's oldest bank. Today we get numbers on homes sales and on consumer confidence, which is my favorite metric of all. Because what is confidence if not for consumerism. Consumer confidence is almost a modern psychological state of being, we find our confidence in our material possessions and our ability to buy those possessions. What better way to describe life in a materialistic, consumerist society than to call it consumer confidence. Be confident oh consumer, be very confident.
CNN: Toshiba shares tank; A bailout gets bigger; Consumer confidence by Alanna Petroff
The world's oldest operating bank -- Monte dei Paschi -- continues to work on securing a bailout from the Italian government.