- First and foremost, given the recent news facing the US president, it would not be surprising to see him take to social media ahead of the weekend.
- Friday is expiration day for December options. Based on the Jane Fonda Flip, this can often lead to interesting activity in the futures market.
- While many will be watching for more announced sales of US soybeans to China, some could be keeping an eye on potential bearish technical patterns on future's weekly charts.
Here we are, pre-dawn Friday morning, another busy day about to unfold before us. With next week being abbreviated by the US Thanksgiving holiday followed by first notice day for December futures contract, there are a few factors that could come into play today. First and foremost, with headlines supposedly turning against the US president, depending on one’s news source, the tendency is for him to take to social media and make broad announcements and/or threats. Will it be renewed tariffs? We’ll find out. As of this writing, the Metals sector isn’t showing much concern with December gold (GCZ25) down $24 (0.6%) and December silver (SIZ25) sliding $1.88 (3.7%). Dr. Copper (HGZ25), the economic indicator, is off 2.25 cents (0.5%). US stock index futures are mixed, after the Indexes themselves posted new 4-week lows, a bearish momentum indicator, this past Tuesday. The Energies sector is showing a solid loss, nearly across the board, with our old friend natural gas the outlier. Commercial selling is seen in crude oil, distillates, and RBOB gasoline, an interesting development ahead of the busiest travel week of the year.
