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Senior Contributor

OptionEye Macro Outlook - Oct. 27th

Good morning.


Overnight grains see corn down 1, beans up 5 and wheat down 2.


The world is awaiting FOMC minutes again for any clue as to what the Fed is thinking. Surveys still have a chance of a rate hike at over 50% which I find perplexing.


Stocks look to open unchanged to slightly lower after a quiet day yesterday. The S&P future is off 1.5 points and the Dow future is lower by 15 points.


Oil is trading heavy and continues its decline. Currently it trades at $43.34 down .64 cents. Gold is up $2.89 to $1165.93.


The 10 year yield in limbo waiting for FOMC and stands at 2.04%.


The dollar is a tad weaker at 96.74 down .11.


Today we get Durable Goods Orders, Capital Good Orders, Case-Shiller Home numbers, Markit US Services PMI, Consumer Confidence Index and Richmond Fed Manufacturing Index. At least we have something to get our teeth into today.  



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