OptionEye Macro Outlook Sept. 1st
Good morning and happy September 1st.
Time really does fly when you get older. The only saving grace is that everyone else gets older with you.
Overnight sees corn 3 to 4 higher on a nice rebound, beans 4 to 5 better and wheat 5 to 6 better. Been very quiet as of late, good to see green on the screen. The dollar is pretty much unchanged at 96.00 down .02 so it can't even be blamed on a weaker dollar. Good ole' fashioned strength.
The stock market will open higher this morning with the S&P future up over 3 points and the Dow future up 33 points.
The 10 year yield leaking out a bit to 1.59% but it will all be about non-farm payroll tomorrow.
The crude market is unchanged at $44.69 down .01 cent. Gold is lower at $1307.16 down $1.81.
Today we get Initial Jobless Claims, Continuing Claims, the Bloomberg Consumer Comfort Index, Markit US Manufacturing PMI, Construction Spending and ISM Manufacturing.