Good morning. It is 28 degrees and mostly sunny here in the Upper Hudson Valley. The forecast predicts a slow rise in temperatures over the next few days and actually hitting the 50s on Monday. That means that all of the white that I now see out of my window as I type will at least partly melt away over the next few days. We shall see. My area of the world got around 9 inches of snow over the last few days. It's early in the season too but the last time we had a harsh November, the rest of the Winter was very mild. We shall see indeed. I hope you had a good Thanksgiving. I mindlessly overate and really felt it through the night. My appetite for food right now is nowhere to be found and my intention is to fast today. The dinner was nice, the gathering was nice, the conversation was fun, and it was unhurried. Lots of people are taking the day off and resting and that's my plan too.
At 8:15 a.m. ET futures are slightly lower and the price of oil is now down around $69 per barrel. The market is poised to open lower and energy equities will especially plunge.
OPEC decided to keep oil production at present levels and that means there is a glut of oil floating around in the world markets. The environment is going to take it on the chin as the price of gas lowers and car manufacturers get amnesia about good gas mileage. Joe the Plumber will love it as he can now go bombing around in his F-150 and not have to shell out one week of pay to keep the thing in gas for a month. In truth it's a disaster as carbon dioxide emissions increase. It's actually a sad day for Earth and our future.
CNN:
Stocks: 4 things to know before the open
Shares in oil companies are set to take a big fall Friday as U.S. stock markets reopen from their Thanksgiving closure.
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