Midday Check

The market is still hovering around the flat line with 2+ hours to go. Oil seems to be weighing on the market, as it is now higher on the day ($66.25).

This is helping the energy complex, but hurting financials and tech.

Investor sentiment is mixed so far, with the CBOE put/call running a little low at 0.79 and the ISEE still flashing fear at 116.

Fed Govenor Poole made comments today, that hinted that the economy is stable. Here is a summary of his comments:

• Poole says 'rule based' policy would aid Fed's communication
• Price stability has boosted U.S. productivity growth and helped moderate business cycles
• Poole says inflation 'is retreating' as energy costs stabilize
• Challenge facing policy-makers is to ensure recent behavior of inflation persists
• Poole says U.S. economy is on sound footing, inflation retreating as energy prices stabilize