OptionEye Macro Outlook May 5th
Overnight sees corn up 2, beans down 1 and wheat up 2. Feels like we are back where we started. I fear that the funds that did not bail are ever more emboldened now.
The dollar is hanging where it has been for a while. Currently it i up .08 at 98.88.
The 10 year yield sees a lift to 2.35% after yesterday's sell off.
The stock market will open mixed with the S&P future is up 1.25 points and the Dow future is down 11.
The oil market has been sick and stands at $45.40 down .12. Gold is up a bit at $1232.57 up $4.47.
It will all be on non-farm payrolls today. Expectation is for 190k. The 12 month run rate is 175k. We will also get the Unemployment Rate and Average Hourly Earnings.
Have a great weekend.