The Market On Friday

  Good morning. It is 66 degrees and sunny here in the Upper Hudson Valley. The weather prediction is for a day of sunshine, rain is not mentioned. It's just about the beginning of the weekend and it's been a long tough week. I'm looking forward to winding down for a few days.

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

  On Thursday markets were bitten by fears over Portugal's banking, recall that this is not the first time that has occurred. Today there is a rebound over that fear and investors might once again focus on second quarter reports with the first big bank report (TBTF) from Wells Fargo presently being parsed for signs of life. Enjoy the weekend.

CNN: Stocks: 5 things to know before the open

Major European exchanges were all higher in early trading on Friday, bouncing back after worries over a Portuguese bank eased.

Wells Fargo will report earnings before the opening bell, giving investors some insight into the health of the banking sector. Wells Fargo's Profit Edges Up Despite Lower Revenu