OptionEye - Macro Outlook - July 17th
A little late today as the vacation season begins to set in..
Grains are easier across the board as no new bullish news has been reported. As old traders would say, you need to feed the 'bull' every day.
Corn down 7 cents early, beans down 7 and wheat down 8. Ugh.
We hard a good Housing Starts number this morning and better than expected Building Permits but it is not enough to keep stocks higher. S & P's are down 2 points in quiet trade. It feels like one of those days.
The 10 year yield stalled at 2.34% and looking for direction.
Oil is lower and looking to break $50.00 and trades at $50.44 down .47 cents. Gold is struggling as well at $1136.85 down $8.55. No inflation here.
The dollar is stronger again at 97.86 up .19.
Have a great weekend.