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ShelladyOptions
Senior Contributor

OptionEye Macro Outlook - Feb. 1st

Good morning.

 

Overnight grains see corn down 3, beans down 3 and wheat down 5.

 

Equities look to open lower this morning with the S&P future down 11 points and the Dow future down 92.

 

The oil market is also lower but relatively quiet as we begin the month. Currently oil trades at $32.82 down .80 cents.

 

The 10 year yield is showing a little sign of economic nervousness and trades at 1.92%, well below that 2.00% level.

 

The gold market is holding in and is trading at $1122.95 up $4.78.

 

The dollar is still strong but a little lower this morning to 99.40 down .20.

 

This will be a big for the US economy with a lot of data out and culminating with US jobs at the end of the week. Today we get Personal Income, Personal Spending, Markit US Manufacturing PMI, ISM and Construction Spending.

 

 

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1 Reply
IronBob
Contributor

Re: OptionEye Macro Outlook - Feb. 1st

Scott,

I just want to thank you for your daily post. I read it almost every day and find it quite informative.

Bob

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