The Market On Monday

  Good morning. It is 44 degrees and lightly raining here in the Upper Hudson Valley. The forecast is predicting a few days of rain. I hope you had a good weekend. I did a lot of walking on Saturday and Sunday. Circumstances beyond our control, mainly the need for a new alternator, put the car in the garage for repairs over the weekend and so the way to get chores done was with some pleasant errand walking around town. I recommend it. Walk to the drug store and supermarket, it's okay, you can do it. We brought backpacks, bought a few necessities, and walked it home.

  At 8:15 a.m. ET futures are moderately higher and the price of oil per barrel is down trading just below $55. The market is poised to open lower.

  One must presume that the bevy of first quarter corporate reports is pleasing to the investor's senses. The market is continuing to boom. With OPEC announcing an increase in oil production, the recent rise in oil may be fizzling, but who the hell knows. Notice how China's central bank is emulating America's Fed. The people who want to abolish the Fed need to review basic monetary policy. Springtime is here, enjoy the greenery.

CNN: Stocks: 4 things to know before the open

The (Chinese) central bank is allowing large banks to hold lower levels of cash reserves, which should free up money for banks to lend out into the economy.