OptionEye - Macro Outlook - April 2nd
Stocks will open lower today as the S & P future is 6 points lower in early trade following the European bourses lower.
Overnight corn down 1, soybeans down 4 and wheat unchanged.
Oil too is lower this morning to $48.96 down $1.13. Gold is up ever so slightly to $1204.71 up .81 cents.
The story today will be in the 10 year yield as we make our way through that key 1.86% and if you we get through 1.83% we could see rates set new lows. This morning we sit at 1.84%.
The dollar is a little weaker to 97.86 down .32.
We are waiting for Jobless Cliams, Continuing Claims and Factory Orders before tomorrow's Non Farm report. Interesting to see the big jobs report being released on Good Friday when I think the number of traders here and in NY will be very thin. We run a risk of a big move either way.
We shall see.