daytrade september 06....pre-market

Morning Guys


DJIA........10447.93 127.831.24% H10451.15 L10321.84
Nasdaq.....2233.75 33.74 1.53% H2235.57 L2213.56
S%P500...1104.51 14.41 1.32% H1105.10 L1093.61
GLD FUT...1251.10 -2.30 -0.18% H1255.60 L1239.20
SLV FUT....19.95 0.28 1.42% H19.99 L19.51
Brent Crude..74.60 -0.42 -0.56% H75.44 L73.20
Nat Gas........3.94 0.19 5.07% H3.95 L3.76


Source Liveindices.com

Further

http://www.theaustralian.com.au/business/us-jobs-data-set-to-boost-local-shares/story-e6frg8zx-1225914512775

US jobs data set to boost local shares
Teresa Ooi From: The Australian September 06, 2010 12:00AM

THE Australian sharemarket is expected to open higher today after fears about the faltering US economy eased.

The relief was caused by the release of better-than-expected US jobs data.

The Australian share price index contract for September is predicting the local market to open 50 points higher, up 1.1 per cent, after Wall Street finished on a higher note on Friday.

Better than expected economic data from the US and China helped to reinforce the view that there would not be a double dip into recession, AMP Capital chief economist Shane Oliver said.

Fears about the health of the US economy eased after jobs figures showed a 54,000 decline in employment last month, just half the fall expected.

London's benchmark index, the FTSE 100, rallied by more than 6 per cent in its strongest winning streak since early July, despite concerns that the British economy could still slide towards recession because of a retreat in the important services sector.

This week's main economic event will be tomorrow's Reserve Bank of Australia board meeting, which is expected to leave interest rates on hold.

The Australian Bureau of Statistics will issue August's labour force report on Thursday.

August employment is expected to show a gain of 18,000 jobs, taking the unemployment rate down to 5.2 per cent.

"Australian economic data was strong with both retail sales and building approvals recording solid gains in July," Dr Oliver said.

He said shares had been on a roller-coaster ride over the past few months. "Beyond the near-term uncertainties, we remain of the view that shares will see strong gains into year end and then through 2011," he said.

Dr Oliver said that the Australian dollar was likely to remain volatile in the short term but should rise on a six to 12-month horizon as it became clear the global recovery was continuing, commodity prices were remaining strong and that Australian interest rates were remaining well above global rates.

And he said the uncertainty over a hung parliament was expected to be resolved this week.

"So far the election has had little impact on Australian financial markets," Dr Oliver said.

"This may partly reflect market expectations that the Coalition will form the government and if so, there would be no mining tax.

"So if Labor gets up, it might have a negative impact on markets as the mining tax comes back into play and some may worry about a Labor-Green alliance adopting less business-friendly policies," he said.

ADDITIONAL REPORTING: THE TIMES

http://www.smh.com.au/business/markets/us-stocks-set-for-a-boost-20100904-14uu5.html

Additional

US stocks set for a boost
September 4, 2010

US stocks could start next week with investors feeling a bit more optimistic about the economy, thanks to a stronger-than-expected jobs report, making further market gains more likely.

The government's nonfarm payrolls report on Friday was the latest of the week's data to suggest the economy may not be headed for another severe downturn, as many investors have feared.

All three major US stock indexes rallied more than 1 percent on Friday. The Standard & Poor's 500 Index scored a gain of 3.8 per cent for the week, marking its best week in eight, and starting September -- typically the weakest month for the market -- on a strong note. In contrast, for the month of August, the S&P 500 fell 4.7 per cent.

"The data forces a re-evaluation of the underlying thesis of the economy, and how the stock market is priced," said Charles Lieberman, chief investment officer of Advisors Capital Management, LLC in Hasbrouck Heights, New Jersey.

"The employment report is really the keystone. If the economy is producing jobs, the thesis of a decline in the economy goes out the window," he said.

Next week, the economic calendar will be light, especially since it will be a holiday-shortened week with the US stock market closed for Labor Day on Monday. But the agenda will include the international trade deficit data, which investors will scrutinize for clues on spending, as well as the latest weekly jobless claims numbers.

High unemployment and weak consumer spending have been among the toughest hurdles to sustaining the economy's recovery from the worst downturn since the 1930s.

Though the stock market ended this week with gains, the S&P 500 was unable to break out of a trading range of between 1040 and 1130, and some analysts see that range-bound trend continuing.

"I think we're in rally mode. In no way do I see us going through new highs or breaking through the trading range, but I see strength after the holiday," said Alan Lancz, president of Alan B. Lancz & Associates Inc. in Toledo, Ohio.

"We still see this as a two-steps-forward, one-step-back type market ... but we'll take what we can get."

SEPTEMBER'S BAGGAGE

For the week, the Dow Jones industrial average rose 2.9 per cent, while the S&P 500 advanced 3.8 per cent and the Nasdaq gained 3.7 per cent.

That's a promising start, but history shows that this month isn't one that Wall Street's denizens will "Try to Remember," a la the iconic song from "The Fantasticks" of Off-Broadway fame.

September is typically the weakest month for stock market performance, according to the Stock Trader's Almanac. The S&P 500 has declined 0.7 per cent on average during September in the years since 1950, the Almanac says.

However, on the day after Labor Day, the Dow has risen in 12 of the last 15 times, the Almanac notes.

Friday's jobs report was the catalyst for a bullish end to the week for stocks because it showed that although overall payrolls shed jobs for the month of August, the decline was much less than expected. And providing a bright spot, private payrolls rose more than expected.

Analysts said the news gave a ray of hope for the recovery. Other data this week showed an unexpected rise in the Institute for Supply Management index on US manufacturing, stronger-than-expected pending homes sales in July, and a second consecutive week of lower claims for initial jobless benefits.

The data means "we are probably not looking at a double dip," said Marc Pado, US market strategist at Cantor Fitzgerald & Co. in San Francisco.

Next week's data includes reports on international trade on Thursday and wholesale inventories on Friday.

A surge in imports dampened growth in the second quarter.

US government data next week is expected to show the international trade deficit narrowed somewhat to $US47.2 billion in July, according to economists polled by Reuters, after rising to $US49.9 billion in June, the highest since October 2008.

Analysts believe sluggish domestic demand should cause a moderation in the growth of imports in coming months, while they expect US exports to strengthen. As a result, the trade gap should be less of a drag on the economy.

Initial jobless claims, also expected on Thursday, are seen dipping to a seasonally adjusted 470,000 for the week from 472,000 previously.

Wholesale inventories for July, due on Friday, are forecast to rise 0.4 per cent, the Reuters poll showed, following June's gain of just 0.1 per cent. That report also will shed light on wholesale sales, seen up 0.3 per cent in July, following June's decline of 0.7 per cent.

Reuters



Also

Australian diary: Calendar of the week's events
http://www.smh.com.au/business/markets/australian-diary-calendar-of-the-weeks-events-20100904-14uvg.html

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