The Market On Friday

  Good morning. It is -4 degrees with light snow here in Upstate NY. Yes, we got snow lots and lots of snow. Ironically the weather logos are suggesting it will get near 60 degrees on Monday with rain. We are in for a mess of water which will no doubt freeze creating mischief galore. Yours truly is mid recuperating and does not have the green light to do heavy lifting for a while so snow removal has fallen into the hands of others, and I'm grateful that they can do it.

  At 8:30 a.m. ET futures are slightly higher and the price of oil per barrel is up. The market is poised to open slightly higher.

  According to CNN the reason why there was such a steep drop yesterday was because investors were taking the profit out of the high valuation of equities. That trend could continue considering the DOW is at astronomical heights, but one never knows. Also one might think that business as usual will resume on Monday as the holiday week falls into history.

CNN: Stocks hesitant after New Year dip

There is little in the way of U.S. economic and corporate reports scheduled for release Friday.