OptionEye Macro Outlook - Feb. 12th
Good morning....I think.
Overnight corn is mixed this morning, beans up 1 and wheat up 1-2.
The world is still a pretty scary place. The stock market came back a little yesterday but still had a pretty bad day. This morning it continues its move higher with the S&P future up 20 points and the Dow future is up 149 points. It will be interesting to see if the market this morning can hold its gains.
The 10 year yield sits at 1.69% having touched 1.53% at the height of yesterday's panic. Still very nervous.
Oil is bouncing back well today and trades at $27.48 up $1.27. Gold backing off a bit to $1238.31 down $8.39.
The dollar is a little bit stronger today at 95.75 up .19.
Today we get the Import Price Index, Retail Sales and the University if Michigan Sentiment Index.
We are off on Monday, roads a little ligher this morning as well as the parking garage. Be careful, sometimes these days can get kind of weird.