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Senior Contributor

OptionEye Macro Outlook August 31st

Good morning. 

 

Well, the month is coming to a close. Volumes have been thin, especially this week. We have non-farm payrolls on Friday, a holiday on Monday and ADP today. Lots of traders are out and those that are in have been keeping their hands in their pockets. 

 

Overnight grains see corn unchanged, beans lower by 3 to 5 cents and wheat basically sharply unchanged as well. 

 

The interest rate market getting quieter and tighter with the 10 year yield trading at 1.57%. The stock market will open relatively flat with the S&P future unchanged and the Dow future down by 6 points. 

 

The oil market sees crude down at $45.97 down .38 cents. Gold bouncing back a bit from yesterday at $1313.81 up $2.70. 

 

Today we get MBA Mortgage Applications, ADP Employment, Chicago Purchasing Managers Index and Pending Home Sales. 

 

 

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