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Senior Contributor

OptionEye - Macro Outlook - Feb. 6th

Good morning. 


Its all about non-farm today and most markets have been a little wonky all week. Today probably won't change that. 


Overnight corn up 2, beans up 3 and wheat up 6. This could be the first weekly gain for wheat this year. 


The 10 year yield sits at 1.81% waiting for this job report. Stocks are slightly higher with S & P futures up 2 points. 


Oil, yes oil, is up today. Oil sits at $51.84 up $1.36. It will be interesting to see oil react to this jobs number. Gold is down a smidge to $1263.52 which is off $1.29. 


Again, today we get the jobs number but it should be noted that hourly earnings will be keenly watched as well. I think there are too many things wrong with the unemployment rate that diminish its importance. A record number of people out of work, a record number of people that have given up looking all together, a record number of people on food stamps and disability doesn't make that 5.6% number look as good as it should. 






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Veteran Advisor

Re: OptionEye - Macro Outlook - Feb. 6th

Solid Jobs Number.

Cheaper Gas.

More Disposable Income.


Glass is Half Full.

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