The Market On Thursday

Good morning. It is 7 degrees and clear here in Upstate NY. Yes, its a very cold morning and bundling up was very necessary for the earlier dog walk. The hands still got cold and the only thing you can do is try to ball up your hands inside the glove to warm them and that only works for so long. There's nothing quite like achy cold hands after being outside in the bitter cold. Call it a certain exquisite nature reminder of one's own vulnerability and sensitivity.

At 8:20 a.m. futures are modestly higher, the dollar is down against all major world currencies, and oil is higher per barrel. Ordinarily one might be inclined to say that the market will open higher except a pile of revealing data comes out at 8:30 a.m., data which could challenge the investment mind.

There's a lot to balance today and one wonders how a particular meme is established on a day like today when all kinds of numbers, data, reports, and the ongoing eurozone crisis light up the sky. It could be a volatile day.

Fourth quarter reports from banks are coming through this week. So far the reports have bested expectations. Overall one still gets the sense that the investment world is bullish on the American economy.

CNN: Stocks: All about bank earnings, economic reports

"...there seems to be confidence in the U.S. economy overall..."


At 8:30 a.m. ET, the government will release December data on inflation, building permits and housing starts...


Oil for February delivery added $1.14 to $101.73 a barrel.