daytrades december 29 morning ...

Good Morning Traders,

DOW Snapshot from the previous trading session:

"U.S. stocks were on either side of the breakeven line Tuesday as investors mulled a disappointing report on consumer confidence and ongoing weakness in the housing market.

Stocks sought direction after the open, as investors largely shrugged off the housing report and even dismissed a report showing that consumers lost confidence in December.

"News on the economic front was very troubling this morning: the housing market is still stuck in the basement, and the drop in consumer sentiment is a disaster as well," said Joseph Saluzzi, co-head of equity trading at Themis Trading. "But the stock market doesn't care."

Such negative economic news typically drives stocks lower, and a flat market is considered positive in light of the news, he added." [Source: cnnmoney.com]

Market Reflections - Tuesday, 28th December, 2010:

"Economic news was not good Tuesday. The consumer's assessment of the jobs markets isn't pointing to any hiring boom, on the contrary. The Conference Board's data moved backwards to show no improvement over the last year. On home prices, Case-Shiller data show wide contraction and deepening contraction.

Financial markets, thinned by the holidays, couldn't get traction on the data. The Dow rose fractionally to end at 11,575 while the dollar was little changed. Gold gained $20 to test but not break trend, ending at $1,405. Oil is holding over $90, ending at $91 while copper is holding over $4.20, ending at $4.25.

Thin conditions are hurting this week's Treasury auctions including the day's 5-year auction. The 5-year yield rose 13 basis points to 2.16 percent while the 10-year was up a very steep 16 basis points to 3.49 percent. Note that the jump in yields, which won't be pleasantly received at the Fed, came despite the day's soft economic data." [Source: bloomberg.com]

The DJIA Index finished the last trading session Up 20.51 points; and
The SPI Futures are currently: Down 29 points atm.

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due to be reported in the US this evening;

...AND...

Of note in Australia today:

There is no noteworthy 'Economic news' due to be released in Australia today either.

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

Gold is currently trading Up $22.10 & is sitting at US$1,406.20/oz atm [Source: Kitco]
Oil is currently trading Up $0.49 & is sitting at US$91.49/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0093 against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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