OptionEye - Macro Outlook - April 15th
Overnight corn is down 2, beans are up 3 and wheat is unchanged.
The economy continues to lag. Yesterday's Retail Sales were tepid - yet postive. There is no real inflation creeping in the system as PPI showed no real overheating.
The stock market will open up a bit better this morning as our S & P future is up over 4 points in early trade. The dollar is a little stronger this morning and trades at 99.17 which is up .44.
The 10 year yield is 1.895% sitting there waiting for its next cue. The recent range has been 1.83% to 1.97%.
The oil market is up again this morning to $53.76 up .47 cents. Gold is down a tad to $1191.80 down .95 cents.
The numbers we get today will be significant. We get MBA Mortgage Applicatioins, Empire Manufacturing, Industrial Production, Capacity Utilization and the Federal Reserve Beige Book. Lots to take in and talk about.