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Senior Contributor

OptionEye Macro Outlook July 6th

Good morning. 


Back to the grind. We have an overnight grain market that shows corn 6 to 7 lower, beans 6 to 7 lower and wheat getting smoked 17 to 19 lower. 


Stocks look to open lower as well as the S&P future trades down over 8 points and the Dow future down 46 points. 


The 10 year yield moving higher again to 2.36% as central banks struggle to digest balance sheets and normalization. 


The oil market bouncing a bit after yesterday's sell off and trades at $45.76 up .63 cents. The gold market still quiet at $1224.28 down $2.70. 


Seems that everything is moving today. 


Today we get MBA Mortgage Applications, Challenger Job Cuts, ADP Employment Change, Initial Jobless Claims, Trade Balance, Markit US Services PMI, the Bloomberg Consumer Comfort Index, Markit US PMI and ISM. Lots to get through not including the North Korean issues. 

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