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Senior Contributor

OptionEye Macro Outlook May 5th

Good morning. 


Overnight sees corn 2 better, beans 3 to 4 better and wheat a solid 1 higher. 


Volumes have been pretty thin. May could be a little volatile. 


The stock market will open higher this morning with the S&P future up 7 points and the Dow future up 55 points. 


The 10 year yield traded through 1.80% yesterday and stands at 1.79% as we await tomorrow's jobs numbers. 


The oil market up sharply this morning at $45.14 up $1.36. The gold market is basically unchanged at $1279.18 down .48 cents.


The dollar is stronger at 93.62 up .44 having bounced off of our recent lows. 


Today we get Initial Jobless Claims, Continuing Claims and the Bloomberg Consumer Comfort Index. 


Happy Cinco de Mayo. 

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