The Market On Tuesday

  Good morning. It is -3 degrees and partly clear here in Upstate NY. Okay, okay, the frigid cold is lingering a little bit longer than we would like maybe, but it'll pass. The sun is rising in the sky and staying out there longer and longer, so the warmth will come. That's a fact. Shirley Temple Black has passed away. She was an institution, literally a pillar for my generation. The older generation will miss her and the younger generations may or may not learn about her. All things pass, the world keeps changing, and at some point you recognize that this happens much faster than you once thought.

  At 7:50 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  Investors are very interested in hearing what new Fed Chair Janet Yellen will be saying this morning. They will be literally hanging on every word and listening carefully for specific ideas on how the Fed will approach the next financial period. With job creation practically stalling out, can the Fed do anything more to stimulate the corporate economy. Here's what I think. Investors want more quantitative easing as do corporations. The corporate economy stands to do very well with cheap plentiful liquidity but that might not really translate into new jobs, just better looking balance sheets. There needs to be a new industrial revolution in the green economy and use the central idea of renewable resources as the theme for this revolution. This is where job creation needs to be.

CNN: Stocks: Waiting on Yellen, earnings

The new head of the Federal Reserve, Janet Yellen, is scheduled to testify before the House Financial Services Committee at 10 a.m. ET.

European markets were broadly higher in morning trading...