daytrades august 30 morning ...

Good Morning Traders (thanks for the handover Highlandlad),

Please note that I won't be posting until at least mid week as I have (errrrrrrr) managed to catch the Flu (first time ever), and have been pretty sick since last Friday afternoon. So I would be very pleased if either pj or Endless would be kind enough to open up the Morning threads for me while I get some R&R, and if Highlandlad could do the linking. Thanks guys, and I'll hopefully be back on deck sooner rather than later.

DOW Snapshot from previous trading session

"The economy is slowing, the Fed is cautious about the recovery and the world's biggest chipmaker is lowering its sales forecast. But stocks rallied more than 1% Friday. "The market is starving for something decent to look at," said Rob Russell, president of financial planning firm Russell & Company. Second-quarter GDP, the broadest measure of economic activity, was revised sharply lower, but was less drastic than forecast. Meanwhile, Fed Chairman Ben Bernanke said the recovery is sputtering, but stressed that the Fed has the tools to ensure continued growth. "None of this is good information, [but] the GDP revision was better than what people were looking for, and the fact that Bernanke outlined some options about what the Fed could still do and is willing to do has helped an uptrend," said Russell." [Source: cnnmoney.com]

The DJIA Index finished the trading session: Up 164.84 pts; and
The SPI Futures are currently: Up 41 pts atm.

Of Note in the US this evening:

Personal Income and Outlays [Market moving indicator]

... AND ...

Of note in Australia today:

Company Gross Operating Profits (QoQ) (Q2)
[The Company Gross Operating Profits released by the Australian Bureau of Statistics measures the total amount of pre-tax profits earned from business activities, excluding interest expense on borrowing and valuation adjustments. A high reading is seen as positive (or bullish) for the AUD because good business conditions are a sign of a strong consumer spending and import/ export activity, while a low reading is seen as negative (or bearish).]

HIA New Home Sales (MoM) (Jul)
[HIA New Home Sales released by the Housing Industry Association presents the number of new home sales in Australia. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees. Thus, a high reading is seen as bullish (or positive) for the AUD, whereas a low reading is seen as bearish (or negative).]

Sources Used: nasdaq.com; bloomberg.com & fxstreet.com]

Gold is trading Down $1.70 atm and is currently sitting at $1,236.40/oz [Source: Kitco];
Oil is currently trading Up $0.35 atm and is currently at $75.52/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.9012 cents [Source: Forex. Live]

Have a great day trading today all!

Cheers, Tweets (:

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