Monday, July 11, 2016

The Market On Monday

  Good morning. It is 63 degrees and hazy sunny here in the Upper Hudson Valley. The forecast predicts that the temperature goes up into the 80s this afternoon and that it will be cloudy. We shall see. I hope you had a good weekend. I performed at a houseparty/fund raiser for autism yesterday. We had a good turnout and I'm anxious to hear how much money was raised. The vibe seemed pretty good, we had an attentive and appreciative audience.

  At 8:30 a.m. ET futures are moderately higher and the price of oil per barrel is down. The market is poised to open higher.

  And so a new quarter of corporate earnings is about to commence. Alcoa usually kicks it off. We hear so much chatter out there about so many problems but the bottom line is that the DOW and S&P are near record highs. The Brexit threw some mud on the mechanism but the market for the time being appears to have recovered. The next few weeks, barring unforeseen circumstances, will really be about the bread and butter of the entire market system - corporate earnings.

CNN: Stocks: 5 things to know before the open by Alanna Petroff
The S&P 500 is now less than 1% away from its all-time high and the Dow is about 1% away from a new record.
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2 comments:

Glynn Kalara said...

Brexit IMO is not going to happen any time soon as the elites in the UK are dragging their feet. The whole issue might end up in Parliament's hands at some pt. and it's likely to be defeated there. The political ramifications will be massive in the UK.

11:26 AM
Jim Sande said...

Well I think they are beginning to recognize more and more how it will very well adversely affect their economy. No doubt there are also external pressures on them to stall it as well.

1:57 PM

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