The Market On Thursday

  Good morning. It is 62 degrees, overcast, and rainy here in Upstate NY. Rain through the day is a strong possibility. I am following the Bergdahl case. Of interest is how the right initially wanted him back and now that he's back, he a traitor and it was a bad move. I don't think I've ever seen a right wing about face talking point come through so obviously and ridiculously. But the American public is relatively dumb and these sorts of improprieties go through the system without any problem.

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

  In my opinion it is the action of the European Central Bank that is the eye catching info this morning. Investors are pleased to see a cut in interest rates by the ECB. This means cheaper money used for refinancing higher interest rate debt for large corporations and a host of other goodies. One might expect to see equities remain fluffy as this refinancing makes ledger books look fantastic.

CNN: Stocks: 5 things to know before the open

The ECB is widely expected to cut interest rates at 7:45 a.m. ET in an effort to help the European recovery.

CNN: ECB cuts rates to head off deflation risk