The Market On Wednesday

  Good morning. It is 26 degrees and furiously snowing here in Upstate NY. We've already gotten several inches of snow. There are school closings and such, the snowfall continues until 6 tonight. Please drive safely and keep plenty of space between your car and the next guy's. It's a very fine type of snow, dry, powdery, not big and heavy. Skiers will enjoy this.

  At 8:10 a.m. ET futures are slightly lower and the price of oil per barrel is up. The market is poised to open in the mixed area except...

  At 8:15 a.m. ET ADP will release its reading of job creation in January. The big government report on jobs created will be released on Friday and with the market in correction mode, this will be huge. Unfortunately we sort of know the answer as no recent month has really popped out with an impressive number of new jobs. It's more along the lines of hoping that the report will not be attrocious. It's possible that the market could revolve around the ADP report.

CNN: Stocks: Slowing down to assess damage

Payroll processor ADP will release its monthly figures on private-sector employment at 8:15 a.m. ET. That report is often considered a barometer of what to expect from the government's key monthly jobs report, due out early Friday.