OptionEye Macro Outlook April 7th
Very quiet markets this time of year. Overnight sees corn steady to a bit better, beans 2 to 3 lower and wheat around a penny lower following yesterday's pretty big sell off.
Stocks are going to open a little lower erasing half of yesterday's gains. The S&P future is just over 8 points lower and the Dow future is 64 lower at this time.
The 10 year yield inching lower and stands at 1.73%. Looks to me that it is shooting for 1.65%.
The oil market helped rescue pretty much everything yesterday after inventories surprised to the downside and helped fuel a rally across the board. This morning oil is pretty much unchanged at $37.73 which is down .02 cents.
Gold is up on the nervous fixed income markets and trades at $1237.67 up $15.18.
The dollar is quiet as well and trades at 94.36 down .06.
Today we get Initial Jobless Claims, Continuing Claims and the Bloomberg Consumer Comfort.