05-01-2014 07:28 AM
OptionEye Morning Market Macro Outlook - May 1st.
Happy May Day.
Corn down 3, wheat down 3 and soybeans down 9. Warmer and a tad drier has the commodtiy sector on the back foot this morning.
Yesterday's trade was very quiet and I expect the same today as parts of Europe are off for the May Day Holiday (socialists) and we have a non farm jobs number tomorrow morning.
In other news the Fed decision was as expected but the 10 year yield took a little dip to 2.65%. Gold is lower by $8.43 to $1283.12. Oil is at $98.90 down .84 cents.
The dollar is a tad stronger at 79.48 up .006.
Stocks are unchanged to slightly higher after the Dow closed at all time highs yesterday. Is the economy at an all time high? Just sayin'.