OptionEye - Macro Outlook - May the 5th
Happy Cinco de Mayo.
Overnight grain markets have corn down 3, beans down 1 and wheat down 4.
The dollar is slightly stronger at 95.55 which is higher by .07.
Stocks are slightly lower. The S & P future is down 3 points. Equities will be quiet as we await the non-farm jobs numbers on Friday. Europe is back from a May Day Holiday yesterday that had markets extrad quiet.
The 10 year yield still flirting with that upper band resistance at 2.16% and currently sits at 2.12%.
Oil is higher by .61 cents to $59.54 and Gold is up $2.24 to $1190.56.
Today we get Trade Balance numbers, Markit US PMI's and ISM Non-Manf. Composite.