OptionEye Macro Outlook Sept. 15th
Hard to believe we are halfway through the month. Where does the time go....
Overnight sees a slight gain in grain prices. Corn is up 1, beans are up 3 and wheat is up 2. The dollar is slightly better at 95.38 up .05. Nothiong there to really write home about. After the volatility that a lot of markets have seen these past few sessions, the volumes are disappointing.
The 10 year yield sticking to that 1.70% at 1.68% as the nerves of an imminent September rate hike beging to abate.
The crude oil market enjoying a better start to the day with crude trading at $43.79 up .21 cents. You have to learn how to celebrate the little things in life. Gold virtually unchanged at $1321.44 down $1.50.
Stocks are off to a better start this morning witht he S&P future up over 5 points and the Dow future up 45 points.
The Bank of England left rates unchanged which was expected. What wasn't expected was the statement saying that they will soon cut rates to just above zero. That is what stocks love to hear.
Today we get Empire Manufacturing, Current Account Balance, Retail Sales, Initial Jobless Claims, Continuing Claims, PPI and the Philadelphia Fed Business Outlook.
Lots to take a look at today.