daytrades feb 16 morning ...

Good Morning traders,

US Market Report:

"U.S. stocks finished lower Tuesday, posting the biggest losses in more than 2 weeks, as investors digested a weaker-than-expected report on January retail sales.

"Investors are disappointed with the retail sales data from last month that came in below expectations," said Timothy Ghriskey, chief investment officer at Solaris Asset Management. "January is a squirrely month anyway, and we also had a lot of bad weather."" [Source: cnnmoney.com]

Market Reflections - Tuesday, 15th February, 2011

"Retail sales proved to be on the soft side in January though the seven-month uptrend is still intact. Weather likely played a negative role in the month, a light month for retailers in any case and one which is adjusted heavily upward in order to make a month-to-month comparison with the heaviest month of all, December which is adjusted heavily downward.

Inflation readings are being more closely watched than ever, first out of China where January consumer inflation proved lighter than expected, at a year-on-year plus 4.9 percent. In contrast, import/export inflation here accelerated in January but still remains isolated to food and energy despite year-on-year rates that are now moving toward plus 15 percent for each. Also making news is the World Bank which warns that food prices are at "dangerous" levels, up a year-on-year 29 percent over the last half year. They estimate that high food prices have pushed pushed 44 million, mostly in developing countries, into extreme poverty.

The Dow, weighed down by the retail sales report, fell back slightly to 12,226. Note that after today's close Dell was jumping nearly 10 percent after easily beating earnings expectations and after raising both sales and earnings guidance. Oil slipped about 50 cents on the day to under $84.50. Gold, up about $10 to $1,375, is getting a bid from Middle East unrest. Interest rates were little changed as was the dollar." [Source: bloomberg.com]

Market Focus in the US this evening

"The outlook for the manufacturing component of the industrial production report is uncertain. A gain would underscore the sector's economic leadership." [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Down 41.55 points; and
The SPI Futures are currently: Down 6 points atm.
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Of note in the US this evening:

Housing Starts [ Market moving indicator]

Producer Price Index [ Market moving indicator]

Industrial Production [ Market moving indicator]

FOMC Minutes [ Market moving indicator]

EIA Petroleum Status Report [ Merits extra attention]

...AND...

Of note in Australia today:

Westpac Leading Index (MoM) (Dec)
[The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Generally speaking, the more positive the reading, the better for the currency, while a low reading is seen as negative (or bearish).]

New Motor Vehicle Sales (MoM) (Jan)
[The New Motor Vehicle Sales released by the Australian Bureau of Statistics measures motor vehicle sales in Australia. It is considered as an indicator for consumer confidence. It is worth noting that motor vehicle sales are a small component of the overall Australian economy. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $11.30 & is sitting at US$1,373.30/oz atm [Source: Kitco]
Oil is currently trading Down $0.49 & is sitting at US$84.32/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9962c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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