OptionEye Macro Outlook - Dec. 11th
Well, now it's all going to be on the Fed and oil. They seem to be driving the markets - all of them.
Overnight corn is unchanged to slightly easier, beans up 3 and wheat down 2.
The 10 year yield still sitting at the 2.20% waiting and waiting for the Fed next week. Stocks getting hit this morning after yesterday's mini rally. The S&P future is down almost 14 points at the time of writing and the Dow future is down 133 points.
The oil market is lower again at $36.23 down .53 cents. Gold getting hit as well and is at $1064.03 down $7.52.
The dollar is weaker which will confound some traders today. Currently it trades at 97.79 down .14.
Today we get Retail Sales, PPI and University of Michigan Sentiment Survey so we will what way this puts pressure on the Fed.