OptionEye - Macro Outlook - Aug 27th
China embarks on the biggest buyback ever supporting their stock market by more than 5% overnight. The Chinese stock market finished up 5.34%. We are pointing to a sharply higher opening with the S & P futures up over 17 points and the Dow futures up 160 points.
Corn is up 2, beans up 12 and wheat up 2 as the trade has been very quiet this last week of August.
The 10 year yield is at 2.15% this morning as we await any nugget of info from the meeting in Jackson Hole, Wyoming.
Oil is up big as well to $40.25 up $1.65.
Gold is following ever so slightly and is up $2.66 fto $1127.99. Not that great of a performance.
Today we get GDP, Personal Consumption, Core PCE, Initial Jobless, Bloomberg Consumer Comfort Index and Pending Home Sales as we sit and wait for anything substantive out of Jackson Hole.