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I just saw that Wall Street futures are down in the pre-market session. Oil and gold also retreated from where they were recently. It seems that the U.S. stock market is having a tough day right now.
Movements in commodities are interesting to follow because they generally anticipate what’s coming in broader markets. When you see gold and crude oil falling together, there’s usually some underlying uncertainty. The U.S. stock market is likely feeling that pressure when the regular session opens.
I’m watching to see if this recovers or if the decline continues. These days of weakness in U.S. stock futures always trigger movement in other assets as well.