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Senior Contributor

OptionEye Macro Outlook - Jan. 26th

Good morning.


A little positive reversal overnight after continuing yesterday's late afternoon sell off.


Stocks look to open up this morning with the S&P up over 7 points and the Dow future up 40 points.


Oil has stabilized after being off significantly yesterday. This morning it stands at $30.60 up .26 cents. I guess we will take that. Gold up again to $1112. 68 up $4.72. Solidly above the $1100 level.


Overnight grains see corn pretty much unchanged, beans down 2 and wheat unchanged as well.


The 10 year yield sits at 2.00% and is looking for some direction. Maybe we get that out of the Fed tomorrow. Today we get FHFA House Price Index, S&P/Case-Shiller Housing numbers, Markit US PMI's, the Consumer Confidence Index and the Richmond Fed Manufacturing Index.


Another big one to look forward to is on Friday when we get GDP numbers.




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