OptionEye Macro Outlook March 2nd
SnapChat goes public today. They haven't made money yet - and are a one trick pony. Watch as it goes higher....ugh.
Overnight sees corn down 1, beans down 3 and wheat down 1 as well. That is pretty good considering the gains we have seen.
The dollar is powering ahead...even more reason to believe that yesterday's rally's were real. This morning the dollar is at 102.04 up .26.
Stocks are mixed with the S&P future down over 2 points and the Dow future up 8. The talking heads were all a chatter yesterday about the Dow at 21k. They even brought out the Dow 30k hats. We are priced for perfection. We need a breather to stay healthy. Nothing goes straight up - except homesick angels. ;-)
The 10 year yield echoing the above sentiment and are making a run at 2.50% this morning. In early trade we sit at 2.48%.
The oil market still languishing and trades at %53.42 down .41 cents. Still locked between $50 and $55. The gold market is lower this morning at $1239.73 down $9.75
Today we get Initial Jobless Claims, Continuing Claims and the Bloomberg Consumer Comfort Index.