The Market On Wednesday

  Good morning. It is 48 degrees and sunny here in the Upper Hudson Valley. We are in for another lovely day with temperatures in the 70s. Today is the first day of Fall in fact the equinox officially occurred early this morning. Fall here we come and people around here know what's in store after that. Pope Francis is making a splash as he will be doing major events in DC today and I hope to tune in and watch him address Congress Thursday morning. The outpouring of GOP backlash and condemnation of this Pope is unfortunate, somewhat juvenile, and completely expected in my opinion.

  At 7:50 a.m. ET futures are modestly higher and the price of oil per barrel is up. The market is poised to open higher.

  It looks like Chinese President Xi Jinping did a solid for the investment community yesterday by reassuring the world about China's economic growth. Vulnerability in Chinese equities along with a glut of oil have pressured all equities lower over the past several months and with oil diving since last year. Oil presently is trading in the $46 to $47 dollar range.

CNN: Six things to know before the open

Chinese President Xi Jinping sought to reassure investors, saying that China's economy is operating "within the proper range." Beijing has maintained its 7% annual growth target for this year.

The weekly update of crude oil inventories is expected at 10:30 a.m. ET. The U.S.'s crude stockpile 80-year high for this time of year.