daytrades jan 6 morning ...

Good morning Traders,

DOW Snapshot from the previous trading session:

"U.S. stocks climbed Wednesday, with the Dow posting a fresh two-year high for the third day in a row, as investors started to position themselves for the new year. "The past year was pretty good and it seems to me that in the new part of the new year, you're kind of repositioning your portfolio in some way that suits your temperament," said Peter Tuz, president at Chase Investment Counsel of Charlottesville, Va. Traders and economists alike are generally more optimistic about the economy in 2011. Earlier Wednesday, two separate reports signaled a brightening jobs picture and stoked optimism that the government's monthly labor report on Friday will also bring good news.

"My expectation is employment will start picking up a little steam just because the economy is picking up," said Erick Maronak, managing director at Victory Capital Management. "CEOs and management teams are expected to hire at a better clip his year than last, and that correlates with their investments overall."

Stocks started the year with a bang, but have had volatile trading days this week as investors pick and choose their spots."[Source: cnnmoney.com]

Market Reflections - Wednesday, 5th January, 2011

"A pivotal call for a 297,000 surge in December private payrolls will always make today a memorable one for the ADP crew. ADP has missed badly in the past and missed badly last month when it called for increasing growth in a payroll report that showed a significant decrease in growth. Jobless claims do support strength for payrolls as do the day's Challenger data that show the fewest layoff announcements in nearly 11 years.

Yet showing only the barest growth in December is today's non-manufacturing employment index from the ISM. Jobs data in last week's consumer confidence report were also negative.

The dollar rallied strongly on the day, up one percent on the dollar index to 80.23, and rates rose including a nine basis point jump for the 2-year Treasury to 70 basis points. But stock-market reaction to the ADP report was cautious. The Dow rose only three tenths to 11,722, perhaps leaving room for a much bigger reaction should Friday's payroll headline come in as ADP advertises. Commodities were mixed: oil up one percent to $90.36, gold down four tenths to $1,377, copper fractionally higher at $4.39." [Source: bloomberg.com]

The DJIA Index finished the last trading session Up 31.71 points; and
The SPI Futures are currently: Up 19 points atm.

Of note in the US this evening:

Jobless Claims [Market moving indicator]

...AND...

Of note in Australia today:

Building Permits (MoM) (YoY) (Nov)
[The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.]

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

Gold is currently trading Down $2.70 & is sitting at US$1,378.60/oz atm [Source: Kitco]
Oil is currently trading Up $0.92 & is sitting at US$90.30/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9996c against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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