Daytraders Morning 6 October

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    Morning all,

    not sure what Brit is up to so will get things moving. (share the load)

    Hot start to spring in Melbourne atm with a couple of 35 degree days just to get us all frisky. Good to have the rest of the states back from your hols so dust yourselves off, clear the head and lets get moving. Seems like another bad news is good news lead from wall st., which is far better than a bad news is bad news lead. imo

    Trust no one and nothing in this game, and so as our new breath of fresh air (Malcom Turnbull) says, stay Nimble!!
    These times are volatile so don't get too heavily invested in stock sentiment. imo


    Commodities
    Russia, the world's top oil producer, is ready to meet with OPEC and non-OPEC oil producers to discuss the situation on the global oil markets if such a meeting was called, its energy minister said on Saturday.A separate meeting between Russian and Saudi officials was being planned for the end of October, to discuss energy issues and some other projects, Russian Energy Minister Alexander Novak told reporters.
    The United States on Monday announced a more than $US20 billion settlement of federal and state claims against BP PLC over its deadly Gulf of Mexico oil spill five years ago. The agreement is "the largest settlement with a single entity in American history", US Attorney General Loretta Lynch said. The heads of the Environmental Protection Agency and the departments of Commerce and Agriculture joined her for the announcement.

    United States

    US stocks rose on Monday, with the S&P 500 up for a fifth day in a row for the first time this year, as rising oil prices boosted energy stocks and investors bet the Federal Reserve would delay raising interest rates until 2016. General Electric was among the best performers, up 5.3 per cent to $US26.82 after activist investor Nelson Peltz's fund disclosed a $US2.5 billion stake in the conglomerate
    Energy shares were among the strongest performers in the S&P 500's 10 main industries Monday.
    "Those people that wanted to sell have already sold by now, and now the market is coming up a little," said Otto Waser, chief investment officer at R&A Research & Asset Management in Zurich. "Given the current market reaction, the correction seems to be over. The market should stabilize and either rally now or in the first quarter of next year. We're looking at a very modest pace of rate increases anyway."
    Paul Tudor Jones, the founder of Tudor Investment Corp, said he expects markets to be choppier as the Federal Reserve for the first time in decades focuses on managing debt, rather than steering local economic developments. While the Fed in the past would have reacted to signs of a slowdown by easing, the central bank is realising that there's a "tail risk" tied to having interest rates near zero, Jones said in a television interview Monday on Bloomberg.

    Europe
    Optimism is returning to European equities after the Stoxx 600 lost as much as 18 per cent from its April record. It reached its lowest level since January on September 29 as concern grew that a slowdown in China will hurt the global recovery, while plunges in Volkswagen and Glencore further sapped sentiment. An exchange-traded fund tracking European stocks had a record $US462 million in outflows last week, and trading of bearish options jumped.

    On Monday, a rally in commodity producers pushed European stocks for their biggest gains since August. The Stoxx 600 advanced 3 per cent at the close of trading in London. "It's playing a little bit of catchup as the outlook for the rest of the year improves," said Patrick Spencer, equities vice chairman at Robert W. Baird & Co. in London, referring to the benchmark index for European stocks. "Interest rate hikes for the moment are off the table. Plus you've got an accommodative ECB and the third quarter-earnings outlook looks reasonable."
    Glencore jumped 21 per cent, the most since its 2011 initial public offering, after soaring as much as 72 per cent in Hong Kong trading as analysts said the concerns around the commodities company's solvency are unjustified. The London shares have regained two-thirds of their value since last week's record low.


    Good fortune to all traders.  (i don't think we need luck, do we?)

    Do your best!!!
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