Day Trading Pre Open - 03 April 2018

Good Morning Fellow Traders,

Welcome back after a four day break. Don't forget that the old time zones are now in play with the end of Daylight Saving over the weekend..

Hope you feel better than I do after being up all night with a vomitting dog. Thinking it could be a reaction to the worming tablets I gave her. A trip to the vet today may be on the cards..

The Australian share market is tipped to open lower when trading resumes on Tuesday after the Easter long weekend.

The share price futures index is pointing to a softer open before the Reserve Bank of Australia makes its call on the official interest rate at its April board meeting.
Economists predict the RBA will leave the cash rate at its record low of 1.5 per cent, given Australia's sluggish wages growth.

Local data investors will be looking out for this week includes Australian Bureau of Statistics figures on retail trade and building approvals in February, both due to be released on Wednesday.
The ABS will also release February data on international trade in goods and services on Thursday.

Australian shares closed lower on Thursday, the last day of trading before the Easter break, with weakness among mining and energy stocks and a dip in ANZ outweighing modest gains elsewhere.

The benchmark S&P/ASX200 index ended the week down 30.1 points, or 0.52 per cent at 5,759.4 points.

Wall Street shares plunged on Monday as investors fled technology stocks amid resurgent trade war worries, with key indexes trading below their 200-day moving averages and the S&P 500 closing below that pivotal technical level for the first time since Britain’s vote to leave the European Union in June 2016.

The first trading day of the second quarter began with a broad selloff concentrated in the technology and consumer discretionary sectors, as losses by Amazon.com (AMZN.O), Tesla (TSLA.O) and Microsoft (MSFT.O), among others, took centre stage from retaliatory trade measures China unveiled on Sunday.

“It’s more complicated than just a tech selloff. What’s hurting everything is that the S&P went through its 200-day moving average,” said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. “That attracts momentum sellers and they don’t care what the fundamentals are.”

The Dow Jones Industrial Average .DJI fell 458.92 points, or 1.9 percent, to 23,644.19 after dipping below its 200-day moving average. The S&P 500 .SPX fell 58.99 points, or 2.23 percent, to 2,581.88 and the Nasdaq Composite .IXIC dropped 193.33 points, or 2.74 percent, to 6,870.12.

Amazon.com (AMZN.O) was the biggest drag on the S&P 500, down 5.2 percent, as President Donald Trump continued his twitter attacks on the online retailer.

All 11 major sectors of the S&P 500 closed lower, with the biggest losses seen by the consumer discretionary .SPLRCD and technology .SPLRCT indexes, which were down 2.8 percent and 2.5 percent, respectively.

The tech-heavy Nasdaq was dragged lower by Microsoft (MSFT.O), Intel (INTC.O), Apple Inc (AAPL.O), Facebook (FB.O) and Alphabet (GOOGL.O).
Shares of Tesla Inc (TSLA.O) ended the day down 5.1 percent after the company was reported to be making 2,000 Model 3s per week, missing its 2,500 target.

U.S. Treasury yields US10YT=RR fell to two-month lows as investors fled sliding stocks for safety ahead of Friday’s closely watched jobs report.
Declining issues outnumbered advancing ones on the NYSE by a 4.17-to-1 ratio; on Nasdaq, a 4.14-to-1 ratio favored decliners.
Volume on U.S. exchanges was 7.71 billion shares, compared to the 7.29 billion average over the last 20 trading days.
Source: Netwealth Morning Business Roundup

Start off the new trading month on a healthy note with a Turkey and Egg Muffin and okay - Coffee - but just one cup.





In consideration of others, PLEASE include the STOCK CODE in all your posts.

Happy trading, play nicely and make informed decisions.