Trump tweeted things were going well with China.
The NFP numbers were weaker than expected, providing the Fed with cover to pause.
WTI is blasting off on supply cuts.
The 15-member OPEC cartel was targeting a cut of roughly 800,000 barrels per day and asking allies to cut 400,000 bpd, Reuters reported. Meanwhile, sources told Down Jones OPEC was considering cutting 750,000 to 800,000 barrels per day and asking partners to contribute enough to bring the reductions to 1.3 million bpd.
Futures were a lot weaker, but now they’re only -30 after fair value.
My hunch is for higher prices today. My only reservation is the fact that today is Friday and MARKETS DO NOT FUCKING BOTTOM ON FRIDAYS.
That being said, today looks like another day where you should trade lightly and not get roped into the mood of the moment — because it’s fleeting, unreliable, and changeable.If you enjoy the content at iBankCoin, please follow us on Twitter