OptionEye Macro Outlook May 9th
I hope everyone had a wonderful Mother's Day weekend. It was beautiful here in Chicago. A great day.
Now, on to the business at hand. Overnight corn up 1 to 2 cents, beans up 2 and wheat mixed.
The stock market will open higher with the S&P future up 5 points.
The 10 year yield inching higher with oil here this morning. The yield stands at 1.77% but still below 1.80%.
The oil market is higher by .68 cents to $45.34 with the fire in Canada the main driver. The gold market selling off here with gold trading at $1274.33 down $13.56.
This morning the dollar is a little higher at 94.01 up .12.
Today we don't have a lot of economic numbers out. The headlines will be the fire in Canada and more political mumbo jumbo.