The Market On Friday

  Good morning. It is 26 degrees and cloudy here in the Upper Hudson Valley. Rain or light snow is expected and the forecast is saying the temperature goes up to 61 on Monday. Okay that is just too freaky. We know that Buffalo got pounded with snow but here's the deal out there. They too are also going to see a rise in temperatures allegedly also up in the 60s by Monday so all that snow is quickly going to become one massive sloshy mess. I'm glad I don't live there even though their housing prices are very modest.

  At 8:55 a.m. ET futures are significantly higher and the price of oil per barrel is up almost $1.50 per barrel. The market is poised to soar at the opening bell.

  The DOW to our utter amazement is perched near 18K. Enjoy your pre-holiday bump, because today is the day when one will see gains. The central bank of China has cut its interest rate by 25 basis points and to put it mildly that is huge. It's huge. Just as the Fed has kept interest rates incredibly low to stimulate the economy, China's central bank is following that same pattern. That's how it's done.

CNN: Stocks: Dow futures soar on China rate cut

In China, the central bank cut its benchmark interest rates by 25 basis points to give the economy a boost, according to state-run news agency Xinhua.