The Market On Friday

  Good morning. It is 66 degrees and raining here in Upstate NY. The forecast appears to be changing from yesterday's with more sun than rain over the next week. We certainly have earned it. It looks like Iraq is falling apart at the seems. What a misguided mess the neocons and Bush Cheney made in that god forsaken place. Is anyone surprised here? Can you imagine where the US would be if McCain were president now, war upon war upon war.

  At 8:30 a.m. ET futures are slightly higher and the price of oil per barrel is up. The market is poised to open higher.

  In my opinion it is the rising price of oil and the Bank of England's announcement of an interest rate hike that are capturing the morning's attention. We certainly could see another day of gains keeping in mind that the market's opening direction and closing direction have consistently been utterly unpredictable in recent times.

CNN: Stocks: 6 things to know before the open

Crude oil prices continue to trade at nine-month highs, pushing higher by roughly 1% to above $107 per barrel, as commodity traders worry about increasing instability in Iraq.

...the Bank of England said overnight that U.K. interest rates could rise sooner than markets expect.