World stock markets were mixed overnight, with Asian shares weaker and European stock indexes firmer. U.S. stock indexes are pointed toward modestly higher openings when the New York day session begins.
Geopolitical risk is back on the front burner of the marketplace late this week. Italian government bond yields are rising and hit a four-year high this week amid an anti-establishment government that is forming in Italy, and which could destabilize the European Union. The U.S.-North Korea nuclear summit has been called off, and the U.S. is threatening to slap more trade tariffs on its trading partners.
The key “outside markets” today find Nymex crude oil prices lower on more profit taking after hitting a 3.5-year high on Tuesday. A bearish weekly low close today would be a technical clue the market has put in a near-term top.