It’s a slow grind today as folks get back into gear after a four-day weekend for most.  On the economic front, disappointing results from Pending Homes report and massive decline in Chicago PMI setting negative tone or sobering reality.  This isn’t an economy that could overheat, on the contrary its barely hanging on and doing so through muscle memory.

Chicago Business Barometer

Manufacturing is a deep crisis that needs more than protectionism and stronger Yuan but better domestic policies including removing the piles of regulations clocking potential growth and tax rates that punish success.

News out coupled with so-so retailing news over the weekend have sent stocks generally lower after being up briefly at the open.  The market is near key resistance and needs a real spark to get Santa’s sleigh moving…it might have to wait until the jobs report.