The only story anyone's talking about is the lack of agreement in Washington on raising the debt ceiling.
So the U.S. stock market looks like it will open lower, based on trading in the futures markets.
To me, what's distressing is how little policymakers seem to have learned from the financial crisis and the consequences (intended or otherwise) of action or inaction. OK, maybe policymakers did learn some lessons, but we seem to be trapped in a vicious circle of point/counterpoint as we near the Aug. 2 deadline for lifting the $14 trillion limit on debt.
Forget can-kicking. I'm not worried the federal government might bounce a check in August. If no deal is reached by Aug. 2, we will have lost the right to scoff about Europe's inability to get its fiscal house in order.