daytrades may 20 morning ...

Happy Mufti Day Traders .. and Feliz Fiestas 'Endless'!

US Market Report:

U.S. stocks churned to end slightly higher Thursday, as investors weighed three disappointing economic reports against a backdrop of ongoing support from the Federal Reserve.

Stocks have been flipping between small gains and losses as investors weigh mixed economic reports.

While the weekly report on jobless claims came in better than expected, a sharp drop in manufacturing activity tempered the mood.

The Philadelphia Fed index, a regional reading, fell to 3.9 in May from 18.5 the prior month. That was the lowest level since October and much worse than economists were expecting. [Source: cnnmoney.com]

Market Reflections - Thursday, 19th May, 2011
Evidence of economic slowing is beginning to build. Summing it up is the index of leading economic indicators which, weighed down by spreading weakness through its components, slipped in April in what the report said points to "choppy" growth during the second half. The housing sector isn't showing any life with April existing home sales proving a disappointment, while the manufacturing sector, which has been the economy's strong suit, appears to be slowing this month based on both today's Philadelphia Fed report and Monday's Empire State data.

Jobless claims rose sharply in April but, in the day's good news, fell back for a second straight week and helped the Dow post a more than 1/4 percentage point gain to 12,603. Other financial prices, however, were soft including a 1/2 percentage point decline for the dollar index and a $1 decline for oil to $98. [Source: bloomberg.com]

Market Focus in the US this evening

The light calendar points to an early weekend exit for the financial markets. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 45.14 points; and
The SPI Futures are currently: Down 11 points atm.
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Of note in the US this evening:

William Dudley speaks
[New York Federal Reserve Bank President - Speech on economic conditions and the outlook before the Dutchess County Chamber of Commerce in Fishkill, NY.]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to report in Australia today.

...AND...

Of note elsewhere today/this evening:

Japan - BoJ Interest Rate Decision (May 20) [ Market moving indicator]

Canada - Consumer Price Index (YoY) (Apr) [ Market moving indicator]

Canada - Bank of Canada Consumer Price Index Core (MoM) (YoY) (Apr) [ Market moving indicator]

Canada - Retail Sales (MoM) (Mar) [ Merits extra attention]

Germany - Producer Price Index (YoY) (Apr) [ Merits extra attention]

European Monetary Union - Consumer Confidence (May) [ Merits extra attention]

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

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Gold is currently trading Up $1.30c atm and is sitting at US$1,495.10/oz [Source: Kitco]
Oil (Nymex Crude) is currently trading Up $0.42 & is sitting at US$98.86/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0668c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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