The Market On Monday

  Good morning. It is 32 degrees and at this very moment lightly snowing here in the Upper Hudson Valley. The forecast is predicting Spring-like temperatures this week and we can sure use that. I hope you had a good weekend. I spent a good part of the weekend untethered from the computer, phone, and TV. I recommend it, try it sometime. No need to pontificate here, it's just a nice break.

  At 8:40 a.m. ET futures are significantly higher and the price of oil per barrel is down. The market is poised to open higher.

  This morning's bounce is the ripple effect from a speech Janet Yellen gave on Friday. In the speech she describes a very gradual movement in the raising of the base interest rate. Investors like to hear stuff like that. Notice that oil is winding it's way down again with light crude now trading around $48 a barrel.

CNN: Stocks: 4 things to know before the open

(On Friday Fed Chair) Yellen said the U.S. central bank would be slow and steady with its upcoming interest rate hikes. "In her own words, Yellen described it as a 'gradualist approach'."