OptionEye Macro Outlook December 5th
Overnight we see corn up 1, beans up 9 and wheat up 2.
Stocks have turned around overnight after the vote in Italy. Our stocks were pointing lower early last night but have made a solid turn around. The S&P future is up almost 10 points and the Dow future up 88 points.
The 10 year yield is rising as bonds sell off against the equity rally. The 10 year yield is trading at 2.42% this morning.
The crude market continues to tack on gains after the OPEC meeting last week. This morning oil is trading at $51.95 up .27. The gold market is lower again at $1166.82 down $10.43.
The dollar is currently at 100.60 down .17. Still strong but a tad weaker today.
Today we get Markit US PMI's and ISM.