Brent crude oil (BNO, quote) was steady above $78 on Thursday as markets prepared for a busy day of economic releases. The commodity traded at $78.06 at 7:45 GMT as investors kept their focus on OPEC’s upcoming meeting and whether or not the cartel would cut output.
The euro dipped below $1.32 on Friday morning as investors kept a keen eye on the developing situation in Ukraine. The common currency traded at $1.3182 at 6:15 GMT after U.S. economic data helped the dollar rally.
U.S. futures are suggesting a positive opening this morning. Today is the first day this week in which all global markets open after the Easter holiday. U.S. markets have found its footing last week after U.S. economic data showed signs of improving with the S&P putting its for 5 day winning streak since October.
With the first two trading days in the bag markets look to be setting up for a lower open as traders focus on Friday’s delayed non-Farm Payroll results for October.
As we begin another the first full trading week of November traders are likely to maintain their focus on U.S. economic data reports.
U.S. futures are riding yesterday’s momentum of positive U.S. economic data refueling speculation the Federal Reserve may opt to taper its $85 billion stimulus program sooner rather than later.
Current market conditions – The Dow Jones (DIA, quote) trading up by 0.22% to 13184.08, S&P 500 (SPY, quote) is trading lower by 0.17% to 1420.47 and the NASDAQ (QQQ, quote) is trading down by 0.41% to 2990.28.
Breaking News – Pending Home Sales Report.
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