The Market On Wednesday

  Good morning. It is 18 degrees and very sunny here in the Upper Hudson Valley. Allegedly we go into the high 20s today and that will seem remarkable. As you know, it's been a relentlessly cold and brutal February, and yes it is trying. I look forward to walking outside without 20 pounds of clothing on to keep me slightly warm. We see that another Cosby accuser has stepped forward. Unfortunately our great comic is a brutal serial sociopath, too many people saying the same unfortunate things.

  At 8:50 a.m. ET futures are modestly lower and the price of oil per barrel is slightly higher. The market is poised to open lower.

  When the Fed talks, investors listen. Today Janet Yellen will continue to testify before the House, not sure testify is the correct word here. Regardless her words from Tuesday helped to spark a small rally. Notice that oil is presently hovering around $50 a barrel.

CNN: Stocks: 5 things to know before the open

Federal Reserve chair Janet Yellen will continue to testify before Congress. This time she's speaking in front of the House. She gave a mostly upbeat report about the economy to the Senate on Tuesday, which gave markets a boost.