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ShelladyOptions
Senior Contributor

OptionEye Macro Outlook - Mar. 7th

Good morning.

 

Overnight grains see coren up over 3 cents, beans up over 4 cents and wheat leading the way up 5 cents.

 

The dollar is a little stronger up .23 this morning to 97.57.

 

Stocks are going to open a little lower this morning with the S& P future just over 6 points lower and the Dow future lower by around 40 points.

 

Tne 10 year yield sits at 1.90% and trading like things are very comfortable. The jobs number was better than expected on Friday but the wage pressures just are not there. The problem that we have is justifying how we are putting these people back to work but we don'd have any wage increases and we don't have a GDP that is on fire.

 

Oil is up by .68 cents this morning to $36.60. Gold is higher as well to $1270.00 up  $10.75.

 

Today we don't get any significant economic numbers and the day will likely be dominated by the voting over the weekend and the sad passing of Nancy Reagan.

 

 

 

 

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