Senior Contributor
Posts: 1,709
Registered: ‎05-03-2010

OptionEye Macro Outlook April 20th

Good morning. 


Overnight sees corn 1 to 2 cents, soybeans up 3 and wheat up 1. The dollar is a little weaker this morning at 99.47 down .26.


The stock market will open a bit higher this morning with the S&P future up 6.75 points and the Dow future up 43 points. 


More earnings come out today but I am not convinced the market is that concerned. Expectation have been set so low it is more about growth and inflation rather than earnings.  


The crude oil market is having a hard time rallying. Currently is trades at $50.79 up .35 cents after a decent sell off yesterday. The gold market is quiet at $1277.75 down $2.52.


Today we get Initial Jobless Claims, Continuing Claims, the Philadelphia Fed Cusiness Outlook, the Bloomberg Consumer Comfort Index and the Leading Index.