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Senior Contributor

OptionEye - Macro Outlook - July 30th

Good morning. 

 

ADP jobs number above 200k but below estimates of 238k. 

 

Corn down 2, beans down 9 and wheat is the star of the morning up 1. 

 

Oil is up .42 cents to $101.39 and gold is down .78 cents to $1298.23.

 

The ADP number will be mildly supportive although it missed expectations. We still will get GDP which although is backward looking will move the market. 

 

Stocks are slightly higher as stocks in Europe are mixed. 

 

The 10 year yield is at 2.46% really  waiting for jobs numbers and GDP. 

 

The dollar is stronger again to 81.30, up .09. 

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