My New Blog

In July, investors were vexed about record-high oil prices; since that time, crude has fallen nearly 28 percent. Back then, financial services companies were dragging down the broader market; over the past two months, the financial sector has outperformed the major stock indexes.

And Wall Street has now finally gotten some closure on one of its biggest unknowns: the fate of Fannie Mae and Freddie Mac. The Treasury announced Sunday that it is taking over the two mortgage financiers.

Investors are hopeful that the government's move will bring demand back to the tight credit markets.

But Wall Street's been burned before, and will be keeping a close eye on how the credit markets perform and on economic data. This week, they'll be watching for readings on retail sales, pending home sales, the trade deficit and wholesale inflation.

Personally, I can't wait to see what the market does tomorrow morning!