Friday, March 9–Jim Wyckoff’s Morning Markets Report
World stock markets traded near steady in quieter action overnight. U.S. stock indexes are pointed toward slightly higher openings when the New York day session begins.
The most important U.S. economic report of the month is on deck today—the employment situation report for February from the Labor Department. The key non-farm payrolls number is forecast to come in at up 205,000. A significant miss on the forecast is likely to gyrate the markets, at least for a bit. The wages component of the jobs report will also be closely scrutinized for a gauge on inflation.
Reports overnight said a meeting between U.S. President Donald Trump and North Korean leader Kim Jong Un is set for May. However, many are skeptical such a meeting will actually take place. Still, the news adds to the upbeat investor risk appetite presently in the world marketplace.