Summer Fun

• If companies continue to report better than expected earnings and everybody is on vacation, does it still count?
• The risk appetite in this market has got to be back, if CIT was able to find a cohort to give it $3 billion
• Oil was below $60 again. Now it's almost back to $65. Confusing
• If I was Tom Watson, I'd feel good today, not bad. He almost made history at the British Open and set an example for athletes of all ages
• India gives the U.S., Hillary Clinton and everyone else a big no thanks on carbon emission control

Futures are higher by a little on continued earnings optimism. As numbers come in better expectations continue to move up. Enjoy the tightrope.