A great big welcome back to Highlandlad, and Good Morning all,
US - Market Reflections - Friday 8th July, 2011
Surprisingly weak June payroll growth of only 18,000 is confirmation that the economy is in a soft spot. The news ended nearly two weeks of straight gains for the Dow which fell 1/2 percent to 12,657. And revisions are going the wrong way, taking 44,000 from prior months and posing the risk that June could end up in the negative column after all is said and done. The unemployment rate is definitely going the wrong way, rising four tenths over the last three months to 9.2 percent.
The weak jobs news fed new talk for QE3, talk that pushed gold to over $1,540. Oil lost $1 to $98 while money moved into Treasuries before yields fall further. The 30-year yield fell eight basis points to 4.28 percent.
Market Focus in the US this evening
Watch for Asian reaction to Friday's disappointing jobs report.
____________________________________________
The DJIA Index finished the trading session: Down 62.29 points; and
The the SPI Futures are currently trading: Down 40 point.
____________________________________________
On the 'Economic news' front, please note the following:-
Of note in the US this evening:
There is no key data being reported in the US this evening.
Of note in Australia today:
Investment Lending for Homes (May)
Home Loans (May)
Of note elsewhere today/this evening:
Japan - Consumer Confidence Index (Jun)
Japan - Prelim Machine Tool Orders (YoY) (Jun)
Canada - Housing Starts s.a (YoY) (Jun)
Canada - Bank of Canada Business Outlook Survey (Q2)
United Kingdom - RICS Housing Price Balance (Jun)- denotes: Market Moving Indicator
- denotes: Merits Extra Attention
_____________________________________________
Gold is currently sitting trading Down $1.60 atm and is sitting at US$1,542.60/oz atm;
Oil (Nymex Crude) is currently trading Down $0.27 atm and is sitting at US$95.93/bbl atm
The Dollar: The AUD is currently trading @ $1.0716c against the US Dollar
Sources used above: bloomberg.com; nasdaq.com; dailyfx.com; fxstreet.com; & kitco.com
____________________________________________
Have a great day.
Please click here to go to the 'Pre-Market thread'
- Forums
- ASX - Day Trading
- daytrades july 11 morning ...
daytrades july 11 morning ...
-
- There are more pages in this discussion • 197 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)