daytrades dec 8 afternoon, page-2

Thanks Highlandlad!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"Watch for international reaction to Tuesday's big spike in U.S. Treasury rates. " [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (07.12.2010)

"President Obama's surprise concession to extend Bush-era tax cuts for high income makers is boosting economic expectations. The news sent stocks briefly higher and Treasury rates dramatically higher. But the stock market rally ended up fizzling by day's end with the Dow posting a fractional decline to 11,359. The 2-year Treasury rate jumped 10 basis points to 0.52 percent while the 10-year rate surged 20 basis points to 3.12 percent.

Expiration of the tax cuts would have lowered expectations for the economy and further lowered expectations on the jobs market. A semi-annual survey by the Institute For Supply Management shows very soft hiring plans for next year. Non-manufacturers in the survey expect to increase their workforces by only 0.3 percent next year, a forecast that points to a long series of flat payroll readings and to little improvement in the nation's 9.8 percent unemployment rate.

Gold fell about $20 to just over $1,400 with oil ending about one percent lower to just over $88. The dollar index rose a half percent to 79.95. " [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

EIA Petroleum Status Report [ Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.]

MBA Purchase Applications
[The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.]

Quarterly Services Survey
[The Census Bureau quarterly services survey focuses on information and technology-related service industries. These include information; professional, scientific and technical services; administrative & support services; and waste management and remediation services. These sectors correspond to three NAICS sectors (51, 54, and 56). The Quarterly Services Survey produces estimates of total operating revenue and the percentage of revenue by class of customer.]

10-Yr Note Auction
[Treasury notes are sold at regularly scheduled public auctions.]

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Of note in Australia tomorrow:-

Unemployment Rate (Nov) [ High volatility expected]
[The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).]

Employment Change (Nov) [ High volatility expected]
[The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

[Sources used: nasdaq.com; bloomberg.com; fxstreet.com; dailymarkets.com; www.dailyfx.com; & ozforex.com.au]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 8 pts atm (Live)!