OptionEye Macro Outlook Oct. 5th
Overnight grains are higher with corn up 1, beans up 6 and wheat up 4.
Stocks are higher this morning with the S&P future up a strong 14 points and the Dow future up
Friday's jobs numbers were bad and the equity market took that to mean no rate hike and away we go. This economy is still really going nowhere and we just can't seem to get the economic engine started in any significant way.
The 10 year yield sitting at 2.00% after trading as low as 1.93% on Friday. I say 1.50% if things don't get better soon.
Oil pretty quiet as it trades at $46.11 up .57 cents. The gold market is still heavy as it trades at $1131.41 down $7.42.
The dollar is 95.76 down .06.
Today we get Markit Composite PMI and ISM Non-Manufacturing Composite. Today will be mostly about digesting Friday's jobs numbers.