5 September 2017 (9:19 AM EDT)
It is a classing “good news first, or bad news” day for U.S. markets. They received bad news first (the Russian President Putin warned of “global catastrophe” if any military action was taken against North Korea. Then the U.S. President Trump delivered a good news on Twitter, saying that Japan and South Korea are going to buy “a substantially increased amount of highly sophisticated military equipment from the United States.” Very good news for the defense industry and thus, for the economy!
U.S. stock futures, that had been dipping lower earlier, perked up on this “money making” news and have improved slightly.
Now, we need to see if this improvement will continue after the opening bell? In that case, we may see a bounce back in major indexes after the opening bell. If that bounce back does not happen, major indexes will continue to trade within their broader weekly range.
Watch how the trend develops and follow it.
Good luck, enjoy the session!