The Market On Thursday

  Good morning. It is 14 degrees and sunny here in Upstate NY. The super cold slogs on with the weather logos indicating a possible break on Saturday when the temperature might go above freezing. Okay, okay, we'll just be patient. We've had cold before, unrelenting frigid cold that normally leaves by January that is. The cold snap will break.

  At 8:45 a.m. ET futures are moderately lower and the price of oil per barrel is down. The market is poised to open lower.

  World attention is now firmly planted on the Ukraine where a pro-Russian government has been overthrown and is presently being replaced with apparently Russia itself. The Russians are 'active' in this crisis as it were. Just what we need, a return to the cold war and yes Putin clearly is the latest in a string of Russian despots. Imperialism is imperialism. Investors might get a break from Yellen's anticipated testimony. Otherwise this Ukraine mess could sour things for a while.

CNN: Stocks: Ukraine and Yellen in focus

U.S. stock futures, which had been trading higher, turned lower on the reports of rising military tension (in Ukraine).