The Market On Thursday

  Good morning. It is 50 degrees and cloudy here in Upstate NY. The weather logos predict a possibility for rain later on, but the real deal is the prediction for next week. Temperatures are expected to hit the 80s. That would be a significant jump. Something tells me that this summer is going to be a scorcher.

  At 8:25 a.m. ET futures are slightly higher and the price of oil per barrel is down. The market is poised to open in a mixed position.

  Investors listened to Yellen on Wednesday and they liked what they heard. The market took a sharp bounce up. Now today after first time weekly layoff numbers, a policy change from the ECB, and more from Yellen, the market will be seeking a direction. I miss the time of small modest gains and slight shifts up or down in the indexes.

CNN: Stocks: Seeking direction after Yellen bounce

The Dow Jones industrial average and S&P 500 rebounded as Yellen signaled continued Fed support for the economy.

...investors will be focused on a potential rate decision from the European Central Bank, due around 7:45 a.m. ET.