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Senior Contributor

OptionEye - Macro Outlook - July 22nd

Good morning. 

 

Ugly earnings from the tech sector after hours yesterday will be the talk of the day. Right now the S & P future is pointing to a lower opening by more than 8 points. Could this be an economical crack? As you know, I have said that I don't think that things are that great out there. 

 

Overnight grains were not pretty. The weather here in Chicago looks to be great. Corn is down 6, beans dow 7 and wheat down 6. 

The forecast is the best it has been in a while. 

 

Oil slipping as well and is currently off .57 cents to $50.29. Gold below $1100 to $1093.70 down $7.55.  No inflation here. 

 

The 10 year yield is lower to 2.32%. Will they raise rates in Sept.? I don't think so....

 

The dollar is a tad stronger to 97.40 up .07. 

 

We get MBA Mortgage Apps. and Existing Home Sales. Good luck. 

 

 

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