OptionEye - Macro Outlook - April 16th
Glad to get tax day out of thee way. Ugh.
This morning, kind of messy here in Chicago with spitting rain and 48 degrees. Overnight corn is down 1, beans down 4 and wheat up 1. The dollar being a little weaker was mildly supportive as it stands at 98.05 down .28.
The stock market looks to open lower this morning with the S & P future down over 9 points this morning. The European stock markets are down between .5% to 1.5% on Greek concerns and a general unwinding.
The 10 year yield is a little lower to 1.87% and still hasn't given us a clue as to it will break out over the 1.97% level or the 1.83% level on the downside. I think we will target 1.83% as we still have no real growth - just manipulated central bank growth.
Oil is lower after yesterday rocket shot and trades at $55.41 down .98 cents. Gold is up $5.35 tp $1207.94.
The economic numbers we got yesterday did not help to give us any clues as to whether we are getting any healthier and it seems to me we are beating expectations on earnings but the expectations are so low that is not anything to brag about.
Today we get Housing Starts, Building Permits, Initital Jobless and Philadelphia Fed Business Outlook.