What's Happening Today:
- Following a mixed Asian close and a mostly negative tone set in Europe, the U.S. based equity futures are pointing to a lower open this morning. The larger story in the U.S. continues to be the impending storm that is targeting southeast Florida. Evacuations are ordered for parts of the region. Over the next few days, traders will be tracking the storm closely and looking for indications of infrastructure damage and any impact on the commodity and insurance industries.
- In addition to the most recent weather events in the U.S., political analysts are watching the geopolitical situation in North Korea as the weekend approaches. With a national holiday tomorrow, there has been discussion of a possible ICBM test by the North Korean regime. Traders will be looking any indication of a safe harbor trade as it related to precious metals, US and international fixed income and global currency pairs
- This afternoon's Baker Hughes Rig Count stands to provide greater color on the U.S. based production and supply conditions following Hurricane Harvey.