The Market On Thursday

Good morning. It is 61 degrees and sunny here in Upstate NY. The week is flying by. My town seems to be back in order after Irene swept through. The generators are off and the world is quieter. My morning walk was ordinary except for my sore knee and I did see a young woman out speeding around on roller blades. That's unusual at 6:30 a.m. I'm tempted to try it, its fear of knee damage that inhibits me.

At 8:20 a.m. futures are slightly down, oil is down, and the dollar is up. Ordinarily this would spell out the market opening lower, but these are not ordinary times. Things are shifting on a dime, a trillion dollar dime.

Investors await data on employment, manufacturing, and construction. Incidentally it recently occurred to me that the term 'military industrial complex' is out of date. Industry in America is strong but not what it used to be. I'm thinking - "military prison financial oligarchy."

Even though the market has become upwardly active in the last week, it might be a little premature to assume that the long list of economic troubles both global and national are receding. The boomerang is likely to return.

CNN: Stocks head for sour September start

Investors are gearing up for Friday's monthly jobs report.


...Wall Street will get the Institute for Supply Management's August manufacturing index, as well as construction spending figures from the Commerce Department.


Oil for October delivery slipped 53 cents to $88.28 a barrel.