The Market On Thursday

  Good morning. It is 66 degrees and cloudy here in Upstate NY . The weather logo is once again showing rain and lightning for today. Perhaps today will be the day. We watched the full MLK 'I Have A Dream' speech last night on MSNBC at 8 pm. It truly is the most amazing speech of the 20th Century, this is true. We've heard the speech so many times at this point and yet it doesn't lose any of it's impact, in fact just the opposite, the words seem to gain in meaning and relevancy. The most stunning part is that King was only 34 at the time, 34 can you imagine. Most people can barely tie a shoe lace at 34, and King presents the model of maturity and wisdom for this country at 34.

  At 8:20 a.m. ET futures are modestly higher and the price of oil per barrel is down. The market is poised to open in the mixed area.

Just as we had good eurozone days and bad eurozone days a few months ago, today we have a good Syria day with investors setting aside their fears of a new war in the Middle East. We are not so sure about their appeasement but this is out of our control. In a few minutes the government will release data on first time weekly layoffs along with a revision of the second quarter GDP. Add it all together and that is the force on the indexes this morning.

CNN: Stocks edge up as Syria fears recede

...the prospect of imminent U.S.-led military action against Syria appears to recede.

Also at 8:30 a.m. ET, the Commerce Department will update its estimate for second-quarter gross domestic product.