OptionEye Macro Outlook May 4th
Overnight we see corn down 3 to 4, beans down 5 to 6 and wheat down 1.
The stock market is going to open lower this morning with the S&P future down 13 points and the Dow future down 97 points.
The 10 yield is showing signs of nervousness and has traded below 1.80% to 1.79%.
The dollar has rallied off its lows and trades at 93.12 up .18.
The oil market is slightly higher at $43.83 up .18 cents and is relatively quiet. The gold market is backing off today at $1276.65 down $9.87.
Today we get MBA Mortgage Applications, ADP Employment Change, Trade Balance, Markit PMI's, ISM Non-Manufacturing Composite, Factory Orders, Durable Goods and Capital Goods. Lots to digest.