Day Trading 10 Oct Pre Market

Morning All
Thanks weekend crew, was awesome weather here

SPI: +8 @ 5458
XJO Friday: -15 @ 5460



Haha could be a good morning regardless of a slightly higher open indicated when Americas two most hated pollies eye each other up in the second debate. This time it looks like Donald has really ducked into some solid pooh with his amazing attitude towards women.

Anyhoo, earnings season in the US kicks off this week so investors will have plenty to chew on.
Perceived winner of this mornings debate also has the potential to move the markets.
If anything the  S&P is too high at the moment with its forward price-to-earnings ratio sitting at 17, above its long-term average of 15.
"I expect companies to beat expectations - they always do. Any way you slice it, we're not going to see the growth that we were hoping for last spring. It's not going to happen," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.
U.S. equities closed lower in choppy trade on Friday as Wall Street digested a weaker-than-expected employment report and kept an eye on falling oil prices. 1
The U.S. economy added 156,000 jobs last month and the unemployment rate ticked up to 5.0 percent, the Labor Department said Friday. Economists surveyed by Reuters had expected 176,000 new jobs and the jobless rate to hold at 4.9 percent. The total was a decline from the upwardly revised 167,000 jobs in August. 2
S%P - .35%

A lot could depend on energy results, which again are expected to be the biggest drag on S&P 500 quarterly earnings.
U.S. oil prices averaged almost $45 a barrel during the third quarter, not far from the average during the same period in 2015. Prices have risen to nearly $50 recently and if that level can be sustained it could boost forecasts from energy companies.
Oil was down for the second session straight, banging against upper resistance.

Copper + .5%
Nickel -1%

Gold @ $1257
Aud Gold $ 1653

AUD .7606

Have a good day

1 CNBC
2 Reuters