daytrades may 7 morning ...

Happy mufti day Traders (thanks for the handover highlandlad),

Dow Snapshot

"In one of the most gut-wrenching hours in Wall Street history, the Dow plunged almost 1,000 points Thursday before recovering to close down 348, as erroneous trading in Procter & Gamble and several other stocks sparked a massive selloff. Fears about the spread of the European debt crisis dragged on stocks through the early afternoon. But the selling picked up in intensity and the Dow reached its nadir at around 2:40 p.m. ET. The selling was a result of technical glitches that caused some stocks, including Dow component Procter & Gamble (PG, Fortune 500), to plunge 37% to $39.37 per share from the close of $62.12 Wednesday. The consumer products maker recovered most of that loss by the close, ending just 2% lower. " [Source: cnnmoney.com]

The DJIA Index finished the session: Down 347.80 pts; and
The SPI Futures are currently: Down 173.00 pts atm.

Of Note in Australia Today:

RBA Monetary Policy Statement (High volatility expected)
[The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish).];

Of Note in the US tonight:

Employment Situation (Market moving indicator);

[Sources: Bloomberg & fxstreet.com]

Gold Futures: Gold is Down $4.40 atm and is currently sitting at $1,204.40/oz (Kitco);
Oil Futures: Oil is Down $0.15 at $76.96/barrel (NYMEX/Bloomberg); and
The Dollar: The AUD/USD is currently trading at 0.8883 cents (Forex. Live).

Have a great day trading today all!

Cheers, Tweets (:

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