Thursday, April 06, 2017

The Market On Thursday

  Good morning. It is 42 degrees, gray, and overcast here in the Upper Hudson Valley, the forecast predicts rain and temperatures in the high 40s this afternoon. I'm still seeing temperatures in the 80s for next Tuesday, and that is still pretty crazy.

  At 9:15 a.m. ET DOW futures are +35 and the price of oil per barrel is slightly higher. The market is poised to open moderately higher.

  Ordinarily I post CNN's pre-market report, but today I find the article on Washington's dysfunction to be more relevant. There is a Trump rally but there are more and more problems rising. The Trump administration has nothing but failure right now. Healthcare reform went abysmally, this is misery. There is a need for a new budget by April 28th, and let's be honest, this might not happen. Trump's approval is around 35%, it's horrendous. All of the fears that we've had about an incompetent incapable president, someone who is completely and utterly out of his depth, are materializing. The economy will be affected, somehow let's hope wiser minds prevail.

CNN: Wall Street fears more dysfunction from Washington by Matt Egan
The next big civics test comes on April 28, the deadline by which the federal government needs to pass a spending bill. If Congress fails to act, Trump's 100th day in office would also mark Day 1 of an embarrassing government shutdown that dents confidence in the administration.

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