The Market On Friday

  Good morning. It is 20 degrees and it is partly sunny here in the Upper Hudson Valley. The temperature is expected to almost reach 40 degrees this afternoon and then we are back into the 50s on Saturday. It cannot be said enough but this area of the Northeast has barely gotten any snow, and the temperatures have been relatively mild, actually very mild. We learned yesterday that January 2016 was the warmest month ever recorded meaning roughly within the last 150 years or so. What does that tell us?

  At 9:00 a.m. ET futures are down and the price of oil is down now around $30.50 per barrel. The market is poised to open lower.

  Until OPEC production levels drop, it appears that the $25 to $35 per barrel range of oil is going to stick around. I regret to see that more people are buying larger SUVs and that gas mileage is presently going in the opposite direction of where it needs to go to curtail CO2 emissions.

CNN: Stocks: 6 things to know before the open

Traders are keenly monitoring moves in the euro and British pound as U.K. Prime Minister David Cameron tries to renegotiate his nation's membership in the European Union. All 28 EU nations will have to unanimously agree to any changes so it's unclear if any deal will be reached before the weekend.