The Market On Monday

At 7:40 a.m. futures are ever so slightly up.

Markets will be closed on Friday, New Year's Day.

Oil is up over $78 per barrel. Many investors are on vacation and so the light volume is accompanied by more volatility. There are no major economic reports on tap for today however investors are predicting airline stocks will fall due to the terrorist incident over the weekend.

At this point the signs are pointing towards a sideways type of day, but as always this could change.

CNN: Stocks set to start the week higher

Wall Street is gearing up for an unpredictable week amid light trading volume.

Reuters: Stock futures edge up as investors eye year-end

Oil hit a four-week high above $78 a barrel as colder weather across the U.S. and fresh signs of an economic recovery helped boost the outlook for fuel demand.