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Senior Contributor

OptionEye Macro Outlook November 1st.

Good morning and happy November. 

 

Where does the time go? 

 

Overnight sees corn up 1, beans up 3 and wheat down just over a penny. 

 

The dollar is pretty quiet in front of non farm payrolls and stands at 94.63 up .07.

 

The stock market looks to open higher this morning with the S&P future up over 10 points and the Dow future up 132. 

 

The 10 year yield trading quietly sideways at 2.39%. It will be something to watch as it reacts over the FOMC announcement. 

 

The crude oil market is strong on big draw downs and trades at $5502 up .64 cents. Gold is a little higher at $1277.47 up $6.40. 

 

Today we get MBA Mortgage Applications, ADP Employment Change, Markit Us PMI, ISM Manufacturing numbers ,Construction Spending and the aforementioned FOMC Rate Decision. 

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