OptionEye Macro Outlook August 25th
Well, things have pretty much ground to a halt here in Chicago. We have the Pro-Farmer tour as well as the Janet Yellen speech tomorrow in Jackson Hole. Volumes are thin and things are jumpy.
This morning corn is down 1, beans are down 8 and wheat is squeezing out an overnight gain up 1.
The dollar is slightly weaker this morning at 94.68 down .10.
The oil market is a little lower again this morning at $46.45 down .32 cents. Gold is basically unchanged at $1324.24 up .09 cents. Still very quiet all waiting for Yellen.
The 10 year yield is still stuck at 1.55% and waiting for some direction.
Stocks are going to open a little lower this morning with the S&P future down 5 and the Dow future down 38 points.
Today we get Initial Jobless Claims, Continuing Claims, Durable Goods, Capital Goods, Markit US PMI's and the Bloomberg Consumer Comfort Index.