daytrades feb 8 morning ...

Good morning Traders,

US Market Report:

"Investors started the week in high spirits Monday, welcoming several major mergers as signs that Big Business is more bullish about the economy.

"Investors are coming in with the attitude, if these business leaders are confident enough to buy other companies, then I'm confident enough to buy stocks," said Jack Ablin, chief investment officer with Harris Private Bank in Chicago." [Source: cnnmoney.com]

Market Reflections - Monday, 7th February, 2011

"Easing tensions in Egypt together with a burst of merger activity made for a more than half percentage point rise in the Dow which at 12,161 is at a new recovery high. Oil fell back two percent to $87.27, still more than $2 higher than before the Egyptian unrest broke out. Gold is steady near $1,350 but silver and copper, both gaining on prospects of rising industrial demand, continue to show strength, to $29.34 for silver and a 20 cent gain and at $4.55 for copper, little changed on the day though it did briefly push beyond a record $4.61. Interest rates were little changed as was the dollar." [Source: bloomberg.com]

Market Focus in the US this evening

"Weather effects on economic data have been very severe this winter. Watch for the latest effects on the retail sector in the weekly chain-store reports." [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 69.48 points; and
The SPI Futures are currently: Up 19 points atm.
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Of note in the US this evening:

ABC/Washington Post Consumer Confidence (Feb 6) [ Moderate volatility expected]
[The ABC/Washington Post Consumer Confidence released by ABC News and the Washington Post captures the level of confidence that individuals have in economic activity reflecting respondents' evaluations of their personal financial situation. Generally, a high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

Jeffrey Lacker speaks
[Richmond Federal Reserve Bank President - Speech on the economic outlook at the University of Delaware in Newark.]

Dennis Lockhart speaks
[Atlanta Federal Reserve Bank President - Speech to the Calhoun Chamber of Commerce in Anniston, Alabama. ]

Richard Fisher speaks
[Dallas Federal Reserve Bank President - Speech on the economy to the Stemmons Corridor Business Association in Dallas.]

Brian Sack speaks
[New York Federal Reserve Bank Executive Vice President - Speech on implementing the asset purchase program at the Philadelphia Federal Reserve Bank.]

...AND...

Of note in Australia today:

Please note there is no noteworth 'Economic news' due to be reported in Australia today.

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $3.50 & is sitting at US$1,352.10/oz atm [Source: Kitco]
Oil is currently trading Down $1.55 & is sitting at US$87.48/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0132c against the US Dollar[Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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