Pre-market outlook for 5/8/26

Good morning traders. ES Futures up slightly overnight, VIX is around 17 and Crude oil is around $90 a barrel. I look for a muted day with the perception that the Iranian conflict is winding down and investors getting ready for the jobs report tomorrow before open. That report could give a clue to what the FOMC will do concerning future rate cuts. I have 2 open positions and will put a third one on at open, per my plan. Also, per my trading plan, I will replace any trade is closed. Thoughts or plans anyone?

Posted May 7, 2026, 12:29 PM UTC

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