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Senior Contributor

OptionEye Morning Market Macro Outlook - May 2nd

Good morning.


Today is the day for the jobs numbers. The GDP number this week was horrible. Let's hope this is better.


Overnight corn up 1, soybeans up 3 and wheat up 4. More bad drought news keeping wheat bid. The yield in Kansas could be as low as 33.2 which would be the lowest since 2001.


Stocks are quiet waiting for the economic release. Expectations are for 220k.


Gold is up, yes, up, trading at $1285.82 up $1.52.


Oil is up as well to $99.73 up .31 cents. The dollar is a tad stronger to 79.55 up .02.


The 10 year yield sank hard yesterday to 2.62% telling us something just isnt quite right. Let' hope this jobs number is a good one.

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