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OptionEye Macro Outlook April 20th

Good morning. 

 

Overnight sees corn 1 to 2 cents, soybeans up 3 and wheat up 1. The dollar is a little weaker this morning at 99.47 down .26.

 

The stock market will open a bit higher this morning with the S&P future up 6.75 points and the Dow future up 43 points. 

 

More earnings come out today but I am not convinced the market is that concerned. Expectation have been set so low it is more about growth and inflation rather than earnings.  

 

The crude oil market is having a hard time rallying. Currently is trades at $50.79 up .35 cents after a decent sell off yesterday. The gold market is quiet at $1277.75 down $2.52.

 

Today we get Initial Jobless Claims, Continuing Claims, the Philadelphia Fed Cusiness Outlook, the Bloomberg Consumer Comfort Index and the Leading Index.