Daytraders Morning 14 Sept

Morning traders

Will give Brit a break this week unless told otherwise (thanks Brit)

US leading the news reels atm so we follow the lead for now.
What is the US lead?

US news
9:17am: US stocks rose on Friday and the S&P 500 posted its biggest weekly gain since July as investors weighed whether the Federal Reserve will raise interest rates next week.
Energy shares dropped, however, after Goldman Sachs cut its oil price forecast through next year.
Eight of the 10 S&P 500 sectors closed higher, led by gains in utilities, which tend to rise as bond yields fall. The index ended up 0.8 per cent, while 10-year US Treasury note yields dipped.
Investors are awaiting this week's Fed monetary policy meeting and news on whether it will raise benchmark US rates for the first time in almost a decade.
"It's really Fed watch. That's what traders are waiting for," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York.
"There's speculation the Fed might hold off, and if they do, I think we'll see stocks rally. But to us, it's not a question of if the Fed raises rates but when. It's going to happen."
The Dow Jones industrial average rose 102.69 points, or 0.63 per cent, to 16,433.09, the S&P 500 gained 8.76 points, or 0.45 per cent, to 1,961.05 and the Nasdaq Composite added 26.09 points, or 0.54 per cent, to 4,822.34.
For the week, the S&P was up 2.1 per cent and the Nasdaq rose 3.0 per cent, registering their biggest weekly percentage gains since mid-July. The Dow was up 2.1 per cent for the week, its best weekly percentage increase since late March.
Stocks have been volatile since China devalued its currency in August amid concerns of sputtering growth in the world's second-largest economy. The S&P 500 has had moves of at least 1 per cent in 11 sessions since August 20.
The Fed has said it will raise rates when it sees a sustained economic recovery, especially in the job market.
The day's data signalled moderate economic growth and tame inflation. US consumer sentiment dropped to its lowest in a year in early September, while producer prices for August were flat.
Oil prices fell after the Goldman forecast, which cited oversupply and concerns over China's economy. Goldman said crude could fall as low as $US20 a barrel. ConocoPhillips, down 2.2 per cent at $US47.36, was the biggest drag on the S&P 500.
US stocks enjoyed their best week in months, but traders are wary ahead of this week's Fed meeting.
US stocks enjoyed their best week in months, but traders are wary ahead of this week's Fed meeting. Photo: AP

9:09am: Local shares are set to open higher, but investors may be on the defensive until the US central bank's policy decision on Thursday night.


Should be an interesting week

Remained focussed and

Do Your Best