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Senior Contributor

OptionEye - Macro Outlook - June 9th

Good morning.

 

Overnight grains getting quieter as we approach the figures on Wed. morning. 

 

Corn down 1, beans up 1 and wheat steady to a little easier. 

 

The 10 year yield is at 2.36% and still debating a June, July or even Sept. rate hike...and some still going for nothing at all. Interesting to note, the Dow went negative on the year yesterday. Doesn't really show a strong anything does it? 

 

Stocks will  open lower this morning with the S & P future showing a decline by almost 4 points. European bourses are off between .30% and 1.30% this morning as the Greece situation carries on and continues to torture us and HSBC announces 25,000 job cuts. Ugh. Where is the silver lining, lift off and escape velocity? 

 

Oil is higher by $1.21 to $59.35 this morning coming back from yesterday's losses. Gold up $7.74 to $1181.81. 

 

The dollar is basically unchanged at 95.28 down .01.

 

Today we get NIFB Small Business Optimism and Wholesale Inventories MoM. 

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