The Market On Friday

  Good morning. It is 25 degrees and it is mostly sunny here in the Upper Hudson Valley. The forecast is predicting a sunny and warmer weekend with the temperatures back into the 50s on Sunday. What I like about the end of February is the obvious increase in daylight. If you add in the period of light prior to the sunrise and after the sunset, then we are already close to equal amounts of light. This year the equinox is on Sunday March 20th, it's just around the corner.

  At 9:00 a.m. ET futures are significantly higher and the price of oil per barrel is up close to $34 a barrel. The market is poised to open higher.

  Two things of interest for this morning: First, fears about China are at this moment quieted after positive comments from the head of China's Central Bank. Second, the revised fourth quarter GDP is slightly higher than the original numbers. The market is poised to open in a feels good position.

CNN: Stocks: 6 things to know before the open

Investors may have been placated by comments from the head of China's central bank, Zhou Xiaochuan, who said the central bank still has the ability and tools to support the nation's economy.

Reuters: Futures extend gains after GDP data

GDP increased at a 1 percent annual rate instead of the previously reported 0.7 percent pace (in the fourth quarter). The economy grew at a rate of 2.0 percent in the third quarter.