Friday, September 20–Jim Wyckoff’s Morning Markets Report
Asian and European stock markets were mostly up in trading overnight. U.S. stock indexes are pointed toward firmer openings when the New York day session begins. It looks to be a quieter end to the trading week as the world marketplace has calmed down significantly after traders came to work Monday dealing with a major geopolitical shock after last weekend’s attack on Saudi Arabian oil installations.
However, many futures traders in many markets will not want to go home for the weekend with big positions, as it still appears the U.S. and Iran are on a collision course at some point down the road.
Nymex crude oil prices are higher and trading around $58.75 a barrel. The other key outside market today sees the U.S. dollar index trading slightly up.
There is no major U.S. economic data due for release Friday.