The Market On Thursday

  Good morning. It is 33 degrees and sunny here in the Upper Hudson Valley. Yesterday afternoon the temperature ran right around 50 degrees and along with some sunshine there was a virtual stream of water heading into the street drains. The snow is melting down. It still looks like winter out there but the changes are gradually taking place. The first day of spring is less than two weeks away.

  At 8:45 a.m. ET futures are moderately higher and the price of oil per barrel is up. The market is poised to open higher.

  Today the dollar is receding from its recent lofty perch. The fear that the Fed will soon raise base interest rates is temporarily held at bay. First time weekly layoff numbers came in at 289,000 suggesting that the labor market is continuing to improve and stay firmly stronger. Man I am looking forward to the weekend.

CNN: Stocks: 4 things to know before the open

"The pace of the dollar reversal suggests that more corrective activity could be in store."