OptionEye Macro Outlook April 12th
Well, the weather looks to be turning for the better and not a moment too soon.
Overnight corn up 2, beans up 6 to 7 and wheat up just over 3 cents.
The 10 year yield sitting nicely at 1.75% waiting for these earnings to come in. Yesterday was the kick off to the earnings season and things are not expected to be very good. We are looking for a decline of about 9% from this quarter to the same quarter last year.
Stocks will open a bit higher this morning after a quiet session yesterday with the S&P future up 5 points and the Dow future up 27 points.
The oil market sill hanging above $40 at $40.64 up .28 cents. The gold market is basically unchanged this morning at $1256.95 down .95 cents.
The dollar is quiet but weak. It stands at 93.96 down .01.
Today we get NFIB Small Business Optimism, Import Price Index and the Monthly Budget Statement.