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Senior Contributor

OptionEye Macro Outlook May 2nd

Good morning. 


Overnight corn about 1 lower, beans just over 2 lower and wheat 1 to 2 lower. 


Today looks to be a slower one as Europe takes the day off for the May day holiday. Lots of folks won't be in today. Equities are gong to be a little higher as that is the path of least resistance as of late. The S&P future is up 5 points this morning and the Dow future up 36 points. 


The 10 year yield showing some economic strain as it trades down to 1.81%. 


The oil market is virtually unchanged at $45.86 down .06 cents. The gold market is up again at $1298.50 up $5.51 this morning 


The dollar is weaker again as we dip below 93.00 to 92.91 which is down  .17. 


Today we get Markit US Manufacturing PMI, ISM Manufactuing and Construction Spending. 



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