The Market On Thursday

  Good morning. It is a chilly 36 degrees and sunny here in the Upper Hudson Valley. Rain is expected and it also looks like we are heading into temperatures more in the 30s and 40s. Winter is starting to present itself as we descend into the cold. Button up. I'm looking forward to a brisk walk later this afternoon. Walking is a great coping mechanism to the cold and decreased daylight.

  At 8:45 a.m. ET futures are slightly higher and the price of oil per barrel is down. The market is poised to open higher but I would expect to see energy stocks continue to deflate.

  The latest first time weekly layoff numbers remain low at 290,000. Greed is back in the market after our recent fear period. The news that Russia is sending bombers into the Gulf Of Mexico for patrols seems somewhat disturbing, reminds me of the Cuban Missile Crisis. Trouble is brewing as the ruble declines in world markets and the price of oil, one of Russia's major sources of income, declines.

Reuters: Futures edge up after Wal-Mart results; data on TAP

As earnings season winds down, Thomson Reuters data showed that of 453 companies in the S&P 500 to report, 74.8 percent beat expectations, above the 63 percent average beat rate since 1994 and 67 percent for the past four quarters. Earnings overall were expected to grow 10 percent over the year-ago period.