The Market On Friday

  Good morning. It is 2 degrees and at the moment sunny here in Upstate NY. Help, we are being held hostage by a frigid cold air mass and it doesn't want to go away. Saturday will be the "warmest" day of the week as the temp is expected to hit 25 degrees. Yeah it's winter. We are presently gaining about 2 minutes of daylight each day. There's something somewhat reconciling knowing that. The Sun's coming back and it's warming effect is little by little occurring.

  At 8:25 a.m. ET futures are moderately down and the price of oil per barrel is down. The market is poised to open lower.

  Investors have not been pleased with fourth quarter corporate reports. Even though the majority of reports have beat expectations, those that have not appear to control the direction of the market. Dare we say it but is the long expected correction here and upon us? Who knows. One thing we can say with some certainty is that it's been a poor week, the indexes are down, and today is shaping up to be more of the same. The good thing is we are into the weekend and we get time to relax and recharge.

CNN: Stocks braced for another day in the red

102 S&P 5000 companies have reported fourth-quarter results, with only 66 beating analysts' estimates...Of the remainder, 26 have missed, and 10 have met expectations.