The Market On Tuesday

Good morning. It is 61 degrees and rainy here in Upstate NY. It is a little soggy outside as a rain pattern has settled over the area. We may be heading into another recession, Congress is in the hands of lunatics, but this part of the country does not have a water shortage. We got water.

At 8:20 a.m. futures are significantly lower, the dollar is mixed, and oil is down just below $85 a barrel.

I'm going to go out on a limb and say that the indexes will start off the day with a thud like drop.

Last Friday's zero job growth in August coupled with Europe's financial problems and the distasteful possibility of another global recession are weighing on investors minds, or so the investment journalists are saying.

Has anyone linked the zero job growth in August to the paralyzing effect the Tea Party GOP had on the world economy with its crazed austerity Summer prank of July and August? What do you know, austerity does not create jobs, real shocker there.

CNN: Stocks: Eyes on economy

...Swiss National Bank intervened on the franc. In a move to protect the currency from Europe's dept woes, the bank set a minimum exchange rate at 1.20 Swiss francs per euro.


The latest read on the labor market renewed fears that the United States may be headed into another recession.