OptionEye Macro Outlook May 11th
Overnight sees corn down 1, beans up 2 and wheat up 1. Feels like the way forward, believe it or not, is a slow grind higher.
The dollar is currently at 99.70 up .03 and quiet.
The stock market looks to open lower with the S&P future trading down 6 points and the Dow future down 40 points.
The oil market settling in at $47.90 up .57 cents. Gold is slightly higher at $1222.34 up $3.11.
The 10 year yield pausing at that 2.40% level and trades at 2.39% this morning.
Today we get PPI, Initial Jobless, Continuing Claims and the Bloomberg Consumer Comfort Index.