The Market On Monday

  Good morning. It is 39 degrees and sunny here in Upstate NY. I hope you had a good refreshing weekend, we did here. The typhoon destruction in the Philippines has everyone's attention and concern. Our greatest sympathy goes out to the people who were directly affected and by those who tragically lost their lives under the forces of the unbelievably powerful storm. It's hard to contemplate that situation, the suffering those people went through was terrifying. Take comfort and gratitude in the reality of our own safety and security.

  At 8:30 a.m. ET futures are flat and the price of oil per barrel is down. The market is poised to open in the flat to lower area.

  With less economic data coming out today, investors will be very interested in hearing how Fed policy will or will not change when Janet Yellen is confirmed as the new Fed Chair on Thursday. That will be a big deal as the most powerful central bank on the globe goes under the control of a new person. Yellen is a liberal, and she has expressed her concern for ordinary non billionaire people, basically the rest of us. This will be an interesting reign of power.

CNN: Stocks may pause after Friday's record

Investors will be watching for clues about the coming Fed taper when Janet Yellen, vice chair of the Federal Reserve, testifies Thursday at her confirmation hearing on Capitol Hill.