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Senior Contributor
Posts: 1,505
Registered: ‎05-03-2010
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OptionEye Macro Outlook February 3rd

Good morning. 

 

It will be all about the non-farm payroll numbers we get at 7:30 this moring. Regardless of whether you think they can have an impact in our markets, you have to keep one eye on the results as there can be some knock on effects with some serious collateral damage. 

 

Overnight, corn is down 2, beans are down 1 to 2 and wheat is down 3 to 4. 

 

This morning the dollar is a little stronger but that could change with the numbers at 7:30.

 

The 10 year yield is at 2.48%. If the number is strong, that will rally past the 2.50% level. 

 

The stock market is quiet and a bit higher with the S&P futures up 3.25 points and the Dow future up 38 points. 

 

The oil market is trading at $53.72 up .18 cents and the gold market is lower at $1211.00 down $4.75. 

 

After non-farm payroll we will also get the Unemployment Rate, Markit PMI's, ISM Non-Manufactruring Orders and Factory Orders. 

 

 

 

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  

 

 

 

 

 

 

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Posts: 497
Registered: ‎10-18-2016
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Re: OptionEye Macro Outlook February 3rd

Hiring and unemployment are both above projections.  Looks like more people are finding jobs and more people are looking for jobs.  That would seem good to this non-economist.