Wednesday, January 04, 2017

The Market On Wednesday

  Good morning. It is 37 degrees, damp, and cloudy here in the Upper Hudson Valley, the forecast predicts a cloudy day with temperatures in the 40s this afternoon. The long range forecast has the week cooling down to frigid temperatures but then warming up again. Considering January is traditionally the coldest month, so far it's been relatively mild. Thinking about Trump here, for me he does not represent an individual that I particularly admire. I once heard Trump in person at an event, this was in the late 80s. At that time I thought he was funny and interesting, his remarks were entertaining. With the whole birther thing and then the way he conducted his campaign, I really lost interest and see him in a dimmer light. Do his supporters admire him? Back in the heat of it, a Trump supporter told me that the wish was that he acted 'presidential'. So one wonders what his voters are thinking.

  At 9:20 a.m. ET DOW futures are up +35 and the price of oil per barrel is up. The market is poised to open moderately higher.

  Notice that Tillerson is going through some gymnastics to set aside his $181 million stock prize from Exxon. Now let me ask you these two questions. Do you think that Tillerson wants the value of his $181 million stock payout to go up in value or to dwindle away? And how might that affect his role as Secretary of State?

CNN: End of the auto boom; Exxon in focus; Fed minutes on tap by Alanna Petroff
Tillerson, who's been nominated as secretary of state by President-elect Donald Trump, is due to receive more than 2 million Exxon shares -- worth more than $181 million at current prices -- over the next decade.

The U.S. Federal Reserve is scheduled to release the minutes from its important December meeting at 2 p.m. ET.

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