OptionEye Macro Outlook November 28th
Just got back from a great break overseas. London and Belgium were a lot of fun over the Thanksgiving holiday. It is funny to note that in England, they have 'Black Friday' sales as well. Remember, black Friday is the day after Thanksgiving..that holiday that the English don't have. Just seeing how far the American economy can reach.
Overnight sees corn down over 1 cent, beans up 5 and wheat down over 3. Fairly mixed bag.
The stock market is going to open lower as the Trump affect may wear off. The S&P future is down 7 points and the Dow future down 61 points.
The 10 year backing off its yield highs as the bond market rallies a tad this morning. The 10 year yield signaling economic strength and 'faith' and trades at 2.33%.
The oil market still struggling with the OPEC meeting and trades a little lower at $45.81 down .25 cents. The gold market still below $1300 at $1190.85 up $6.95.
The dollar is still very strong at 101.35 down .14.
Today we get the Dallas Fed Manufacturing Activity numbers.