OptionEye Macro Outlook August 9th
Overnight grains are a little lower with corn down 1, beans down 4 and wheat down 3. Ratings yesterday afternoon saw corn lowered by 2% GE and soybeans unchanged. Hardly earth shattering.
The 10 year yield is about the same as it was yesterday and trades at 1.57%. After the big jobs number we might have expected a higher yield but with the way the world is now it makes it difficult.
Stocks are going to open a bit higher but still are quiet. The S&P is up 2 points and the Dow future up 20 points.
The crude market rallied hard yesterday and is higher again this morning. WTI trades at $43.27 up .25 cetns. Gold is a little lower at $1333.40 down $1.93.
The dollar is basically unchanged at 96.36 down .03.
Today we get NFIB Small Business Optimism and Wholesale Inventories.