OptionEye Global Macro Outlook February 1st.
Happy February. Where to the days go? As I get older time goes by faster. Ugh...
Back to business. Overnight sees corn down 1, beans down 5 and wheat down 4. Not such a great start to the month.
The dollar is still weak at 89.02 down .10.
The stock market is pointing to a higher opening with the S&P future up almost 7 points and the Dow future up 16.
The 10 year yield getting all the headlines as it inches higher at 2.74% stoking more talk of the yield competing with the equity market.
The crude oil market is a little higher at $65.35 up .62 cents. and the gold market is a bit weaker at $1340.32 down $4.83.
Today we get Challenger Job Cuts, Nonfarm Productivity, Unit Labour Costs, Initial Jobless Claims, Continuing Claims, the Bloomberg Consumer Comfort Index, the Markit US Manufacturing PMI, Construction Spending, the ISM numbers and Wards Vehicle Sales.