Good morning. It is 36 and very sunny here in the Upper Hudson Valley. The forecast predicts a fine day in the high 50s and then on Thursday the prediction is that the temperature goes up around 70 degrees. That sounds all nice and rosy except the forecast is also predicting a significant cooling trend starting on Sunday and by significant I mean temperatures in the 20s and 30s. Go figure. It's interesting, Alabama Governor Robert J. Bentley is in the midst of a sex scandal that may force him to resign. Recall that Trump won the Alabama primary easily, and also recall that Trump is fond of bragging about his many affairs, marriages, and publicly refers to women with degrading terms like "piece of ass" and the rest. So what gives Alabama? Your governor's behavior is rather mild compared to the person that you want to run the country and gleefully just voted for. How do you explain such a disconnect?
At 9:10 a.m. ET futures are significantly higher and the price of oil per barrel is up now trading around $39. The market is poised to open higher.
Janet Yellen's comments about cautiously raising the base interest rate yesterday appears to be sparking this morning's rise. Enjoy it while it lasts.
CNN:
Stocks: 5 things to know before the open
The rally was inspired by Yellen, who said on Tuesday afternoon that the Fed would "proceed cautiously" with future monetary policy moves, which suggests a lack of appetite for an interest rate hike in April.
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