daytrade diaries... october 5, page-39

Good morning,

US Stocks posted modest losses Friday after a disappointing monthly jobs report brought fresh concerns that a recovery in the troubled labor market may be a long way off.

The Dow Jones industrial average fell for a fourth straight day, losing 22 points a day after tumbling 203 points following weak reports on manufacturing and weekly claims for jobless benefits.

Some analysts are saying "There's been a lot of talk particularly in the last couple of months that we're seeing a turnaround in unemployment, and obviously that's not the case. Pullbacks are going to constantly be used as opportunities to get into the market,"

Oil prices fell on Friday as official data revealed a jump in job losses and the unemployment rate in the United States, the world's biggest energy-consuming nation.

New York's main contract, light sweet crude for November delivery dropped 87 cents to close at $US69.95 a barrel.
The Australian share market is expected to open lower led by losses on Wall Street and weaker commodity prices.

At 0647 AEST on the Sydney Futures Exchange, the December share price index contract was 21 points lower at 4588.

There is a Labour Day Public holiday in NSW and the ACT on Monday, although markets are open as normal.

In economic news, the Australian Industry Group/Commonwealth Bank Australian Performance of Services Index for September is released.

The ANZ Job Advertisements survey for September also is due.

Gold up $3.60 to US$1004.30 an ounce
Silver down 21c to US$16.23 an ounce
Copper down 5.55c at US$2.6815 a pound

http://www.marketwatch.com/
http://www.thebull.com.au/
http://www.news.com.au/business/