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Senior Contributor

OptionEye Global Macro Outlook May 2nd

Good morning. 

 

Overnight sees corn down 1, beans 2 to 3 and wheat down 3. 

 

The dollar is strong at 92.43 down .01. 

 

The stock market is quiet for the day after May Day. The S&P future is steady to a half point better and the Dow future is down 21. 

 

The 10 year yield is inching back higher again and stands at 2.97%. 

 

The crude oil market is a bit higher at $67.57 up .32 cents. The gold market hanging on to $1300 and trades at $1309.90 up $5.99. 

 

Today we get MBA Mortgage Applications, ADP Employment Change and the FOMC Rate Decision. 

 

 

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