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ShelladyOptions
Senior Contributor

OptionEye Macro Outlook - Nov. 19th

Good morning.

 

Well, the FOMC didn't really do much except fuel stocks further. This morning the S&P future is up over 6 points and the Dow future is up 29.

 

Corn futures are up 1 this morning, beans down 3 and wheat up 1.

 

The 10 year yield is actually a little lower after the release of the minutes. The yield is at 2.25% as I think the trading community was expecting a more hawkish release of the FOMC minutes.

 

Oil is lower by .42 cents to $40.33 and gold is up $1.21 to $1071.91.

 

The dollar is a little weaker but still at a strong level trading at 99.19 down .45.

 

Today we get Initial Jobless Claims, Continuing Claims, Philadelphia Fed Business Outlook, Bloomberg Consumer Comfort Index and the Leading Index. Lots to digest.

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