Good morning. It is 65 degrees, clear, and pleasing here in Upstate NY. We have been in a golden segment of temperature and weather conditions since the first day of Summer. I am back so to speak after having spent several days since last Wednesday morning working through a kidney stone. I'm going to take it all lightly today and then return to modest action on Tuesday that is provided everything goes okay. We see that Iraq is steadily falling to ISIS and that the headlines indicate more mass murders and extremely foul play by ISIS in their quest. Iraq as a defined country has essentially been in a state of shambles or near a state of shambles ever since the British carved the country out of the Middle East. History does not bode well in that area of the world for a stable political entity. Whatever the hell the neocons and Cheney Bush were thinking was about as off kilter as it could be.
At 8:40 a.m. ET futures are slightly higher and the price of oil per barrel is slightly lower. The market is poised to open in a flat area.
Investors are looking over all the usual suspects and how those suspects fall in the context of world events. Home sales in May and the rising price of oil which is connected to the latest Iraq mess are on the table. Speaking of oil it is worth mentioning that the price of it is expected to significantly rise. Just saying, that might not happen, on the other hand it just might.
CNN:
Stocks: 5 things to know before the open
Investors are awaiting U.S. existing home sales figures to be posted at 10 a.m. ET. The monthly data will give an indication of how the real estate market fared in May.
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