Friday, February 24, 2017

The Market On Friday

  Good morning. It is cloudy and 50 degrees here in the Upper Hudson Valley, the forecast predicts a cloudy day with temperatures around 70 degrees this afternoon. By the end of today there will be very little snow left from our massive storms of just two weeks ago. Back to square one we go.

  At 9:15 a.m. ET the DOW is -94 and the price of oil per barrel is down. The market is poised to open significantly lower.

  The market's record run over the past 10 days may be in trouble today, although as I write, the day is still young and things can always change. It's still about fourth quarter corporate reports with the focus being on retailers. Notice that it is the weight of Democrats fearing for our lives under the Trump administration that is dragging on consumer sentiment.

CNN: Dow winning streak; Retailers need therapy; Consumers confident? by Alanna Petroff
A final reading of the Michigan Consumer Sentiment Index for February will be published at 10 a.m. ET. A preliminary reading for February showed sentiment dropped, pulled down by Democratic supporters who are worried about the future.

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