The end of the week marks the once-a-quarter event known as "quadruple witching" - the simultaneous expiration of stock index futures, stock index options, stock futures, and stock options that occurs on the third Friday of the third month of the quarter.
Futures pointed to a bullish start for Wall Street, with stock index futures higher and gains across the board in Europe and Asia.
Though traders didn’t expect those options and futures expirations to cause much volatility, the lack of news might just do that: there are no major economic reports due for release, and no notable earnings reports, causing what some like to refer to as a "news vacuum."
One notable - though not particularly market-moving news item - is the arrest of Allen Stanford in connection with his alleged $8 billion Ponzi scheme involving certificates of deposit. Stanford has steadfastly denied any wrongdoing.
Shares of Apple may bear watching on the first day of sales for the latest version of Apple's iPhone. Apple had taken preorders online for delivery Friday, and will sell the phone at its stores beginning of the day.
And shares of Blackberry maker Research-In-Motion were off slightly. The company topped earnings expectations after the bell Thursday, but its outlook was disappointing
- written by Peter Schacknow, Senior Producer, CNBC.com