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ShelladyOptions
Senior Contributor

OptionEye Global Macro Outlook January 31st

Good morning. 

 

Overnight sees corn steady, beans down 4 and wheat down 3. 

 

The dollar is weak at 88.95 down .20. 

 

The stock market wants to open a bit better after the State of the Union speech but is definitely off its overnight highs. The S&P future is up 7 points and the Dow future is up 61. 

 

The 10 year yield still is strong at 2.69%. 

 

The crude oil market stands at $64.07 down .43 cents and gold is higher at $1343.49 up $4.98. 

 

Today we get MBA Mortgage Applications, ADP Employment Change, the Employment Cost Index, the Chicago Purchasing Managers Index, Pending Home Sales and the FOMC Rate Decision.

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