daytrades july 22 morning ...

Good morning Traders (thanks for handover highlandlad),

DOW overnight Snapshot

"Stocks tumbled Wednesday after Federal Reserve Chairman Ben Bernanke told Congress that the outlook for the economy is "unusually uncertain," adding to worries about the pace of the recovery. Stocks were slightly lower through the early afternoon as better-than-expected quarterly profit reports from Apple, Morgan Stanley and Wells Fargo were countered by disappointment about results from Yahoo and others."

"But the selling picked up steam in the afternoon following the 2 p.m. ET release of Bernanke's prepared testimony for a Senate committee. The Fed chief told lawmakers that, despite ongoing signs of weakness in the economy, central bankers expect gradual recovery over the next few years, although the labor market healing will be slower than previously thought. "He's basically saying the economy is getting worse, and that while it's still going to grow, it's not recovering at the pace they had hoped," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams." [Source: cnnmoney.com]

The DJIA Index finished the trading session: Down 109.43 pts; and
The SPI Futures are currently: Down 49 pts atm.

Of Note in the US this evening:

Ben Bernanke speaks [Market moving indicator]

Existing Home Sales [Market moving indicator]

Jobless Claims [Merits extra attention]

EIA Natural Gas Report [Merits extra attention]

... and ...

Of Note in Australia today:

RBA Foreign Exchange Transaction (Jun)
[The Foreign Exchange Transactionreleased by the Reserve Bank of Australia shows the movements of the exchange of the AUD for others, likewise others for the AUD. It indicates the climate of foreign investors into the AUD itself. This event causes volatility in the AUD. Generally, an increasing number of investments is seen as positive prospect of the Australian economy (or bullish sentiment for the AUD).]

[Sources used: nasdaq.com & fxstreet.com]

Gold is trading Down $0.40 atm and is currently sitting at $1,185.70/oz [Source: Kitco];
Oil is currently trading Down $0.11 atm and is currently at $76.45/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.8774 cents [Source: Forex. Live].

Have a great day trading today all!

Cheers, Tweets (:

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