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Senior Contributor

OptionEye Macro Outlook October 28th

Good morning. 

 

Overnight sees corn slightly easier down 1 cent, beans up 1 cent and wheat down 1 cent. 

 

Today is the day that we get GDP. Should be an interesting day. Expectations are for a 2.6% number. We shall see...

 

The stock market will open up a little higher with the S&P future up 4 points and the Dow future up 20 points. 

 

The 10 year yield showing signs of worrying about inflation as it trades up to 1.85%. It made a decent move yesterday as did global bonds around the world. 

 

The oil market is lower at $49.46 down .26 cents. Gold is a little lower at $1266.63 down $1.78. 

 

The dollar is still fairly strong at 98.84 down .04 this morning. 

 

We also get the Employment Cost Index , Personal Consumption, Core PCE and the University of Michigan Sentiment Survey. 

 

Have a great weekend. 

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