daytrades april 18 morning ...

Good Morning Traders,

US Market Report:

After a rocky start, earnings get into high gear this week.

"Next week's earnings will give us a broad mosaic of how Corporate America is doing," said Quincy Krosby, market strategist with Prudential Financial.

Investors, so far, have gotten mixed messages from this quarter's earnings season. While some companies like JPMorgan Chase were able to top Wall Street estimates with their results last week, any good news was outweighed by mediocre results from Alcoa, Bank of America and Google.

All three major indexes have retreated slightly as poor earnings and rising oil prices dragged down investor sentiment.

"I've been surprised that we've seen as many companies miss expectations, so it's been somewhat disappointing," said Kate Warne, chief investment strategist with Edward Jones. [Source: cnnmoney.com]

Market Reflections - Friday, 15th April, 2011

The economic news is no better than mixed but that didn't hold back the Dow which rose 1/2 percent to 12,341. Consumer inflation is dormant if you don't count food and gas, but when you do count food and gas then inflation is definitely on the rise.

The view on manufacturing is clear with data showing broad acceleration for industrial production in March and strong acceleration in the New York region so far this month. There is no sign yet of a Japanese effect.

Market reaction is hard to read. Treasury rates went sharply lower indicating confidence that the Federal Reserve, backed by low core inflation, will keep the accommodation coming. The 2-year yield fell eight basis points to 0.69 percent. But gold is signaling the opposite on inflation, up $10 to a new record over $1,485. [Source: bloomberg.com]

Market Focus in the US this evening

There's signs of life appearing in the housing sector. The Housing Market Index will offer a look from the home builder side. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 56.68 points; and
The SPI Futures are currently: Up 16 points atm.
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Of note in the US this evening:

Housing Market Index [ Merits extra attention]

...AND...

Of note in Australia today:

Please note there is no noteworth 'Economic news' due to be reported in Australia today.

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Down $0.30 & is sitting at US$1,486.10/oz atm [Source: Kitco]
Oil is currently trading Down $0.46 & is sitting at US$109.20/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0553c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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