OptionEye Macro Outlook December 14th
Just a tad nippy here this morning. And..as an old trader once told me...'we have a word for this type of weather in the English language....it's called WINTER!
Anyhow, overnight corn giving back some gains down 1, beans down 5 and wheat 3 to 4. Getting quieter as we approach the holidays.
The 10 year yield is at 2.44% as we wait for the Fed. A quarter percent hike is pretty much expected. Anything less or more would be the surprise.
Stocks are going to open quietly this morning with the S&P largely unchanged and the Dow future 6 points lower.
The oil market backing off its highs here and trades at $52.24 down .74 cents. Gold getting a little boost and trades at $1162.23 up $3.78.
The dollar is weaker at 100.87 but still strong.
Today we get the Fed and Retail Sales, PPI and Industrial Production.