The Market On Thursday

  Good morning. It is 45 degrees and raining here in the Upper Hudson Valley. Rain is expected over the next 3 days. This is a bummer for me as I have exterior work to do to the house and it needs to be completed by tomorrow. Time to break out the rain gear. Maybe the clouds will part for a few hours later on.

  At 8:50 a.m. ET futures are significantly higher and the price of oil per barrel is up. The market is poised to open higher.

  I just saw the weekly first time layoff number - 283,000. That's still pretty good and points to a little more opening in the job market. I was shocked to see the market take an extraordinary dive at the end of Wednesday's session. I haven't looked into the reasoning for it but I suspect the calamity in Canada might have been part of the it. Investors will continue to parse third quarter corporate results today and the market correction or rebound will take on more definition by closing.

CNN: Stocks: 4 things to know before the open

Quarterly results are due to come thick and fast Thursday.