daytrades dec 1 afternoon, page-2

Thanks Highlandlad!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"A second month of strong gains in ISM new orders would ease the sting from last week's durable-goods disappointment." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (30.11.2010)

"Early indications on early holiday shopping continue to show strength, more strength than consumer confidence which is improving though frustration over the jobs market persists. With the big jobs report out on Friday, markets held steady. The Dow slipped slightly to retest 11,000, ending at 11,006. The dollar, up a half percent on the dollar index to 81.35, continues to strengthen as the euro softens. Gold rose more than one percent to $1,385 while oil, down more than two percent to $83.65, gave back yesterday's gain." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

ISM Mfg Index [ Market moving indicator]
[The Institute for Supply Management surveys more than 300 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. A composite diffusion index of national manufacturing conditions is constructed, where readings above (below) 50 percent indicate an expanding (contracting) factory sector. Export orders, import orders, backlog orders and prices paid for raw and unfinished materials are also measured, but these are not included in the overall index.]

Motor Vehicle Sales [ Merits extra attention]
[Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending.]

ADP Employment Report [ Merits extra attention]
[The ADP national employment report is computed from a subset of ADP records that in the last six months of 2008, represented approximately 400,000 U.S. business clients and approximately 24 million U.S. employees working in all private industrial sectors.]

Productivity and Costs [ Merits extra attention]
[Productivity measures the growth of labor efficiency in producing the economy's goods and services. Unit labor costs reflect the labor costs of producing each unit of output. Both are followed as indicators of future inflationary trends.]

Construction Spending [ Merits extra attention]
[The dollar value of new construction activity on residential, non-residential, and public projects. Data are available in nominal and real (inflation-adjusted) dollars.]

EIA Petroleum Status Report [ Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on petroleum inventories in the U.S., whether produced here or abroad. The level of inventories helps determine prices for petroleum products.]

Fed's Beige Book [ Moderate volatility expected]
[The Beige Book reports on the current US economic situation. Through interviews with key business contacts, economists, market experts, and other sources are gathered by each of the 12 Federal Reserve Districts. The survey gives a picture of the overall US economic growth. An optimistic view of those authorities is considered as positive, or bullish for the USD, whereas a pessimistic view is considered as negative, or bearish for the Dollar.]

Janet Yellen speaks
[Federal Reserve Vice Chair - Speaks in New York to the Committee for Economic Development on "Fiscal Responsibility and Global Rebalancing."]

Sheila Bair speaks
[US FDIC Chair Sheila Bair , Federal Reserve Gov. Daniel Tarullo, the acting director of the FHFA and Executive VPs of Fannie Mae and Freddie Mac testify to the Senate Banking Committee on problems in the mortgage servicing industry.]

Ricard Fisher speaks
[Dallas Federal Reserve Bank Pres. Richard Fisher speaks in Killeen, Texas at a community forum hosted by the Dallas Bank.]

MBA Purchase Applications
[The Mortgage Bankers' Association compiles various mortgage loan indexes. The purchase applications index measures applications at mortgage lenders. This is a leading indicator for single-family home sales and housing construction.]

Challenger Job-Cut Report
[This monthly report counts and categorizes announcements of corporate layoffs based on mass layoff data from state departments of labor. The job-cut report must be analyzed with caution. It doesn't distinguish between layoffs scheduled for the short-term or the long term, or whether job cuts are handled through attrition or actual layoffs. Also, the job-cut report does not include jobs eliminated in small batches over a longer time period. Unlike most economic data, this series is not adjusted for seasonal variation.]

Nonfarm Productivity (Q3)
[The Non-farm Productivity released by the Bureau of Labor Statistics of the US Department of Labor shows the output per Hour of labor worked. Non-farm Productivity indicates the overall business health in the US, which has an influence on GDP. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).]

Unit Labor Costs (Q3)
[The Unit Labor Cost released by the Bureau of Labor Statistics, Department of Labor shows a total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation. A high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative ,or bearish.]

ISM Prices Paid (Nov)
[The Institute for Supply Management ( ISM ) Manufacturing Index shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries. It is a significant indicator of the overall economic condition in US. The ISM prices Paid represents business sentiment regarding future inflation. A high reading is seen as positive for the USD, while a low reading is seen as negative.]

Total Vehicle Sales (Nov)
[Total Vehicle sales released by the Autodata Corp. measures vehicle sales in the U.S. It is considered as an indicator for consumer confidence. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

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... AND ...
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Of note in Australia tomorrow:-

Retail Sales Trend (MoM) (Oct) [ Moderate volatility expected]
[The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.]

Trade Balance (Oct) [ Moderate volatility expected]
[The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.]

AiG Performance of Services Index (Nov) [ Moderate volatility expected]
[AiG Performance of Services Index released by the Australian Industry Group presents business conditions in the Australian service sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]


[Sources used: nasdaq.com; bloomberg.com; fxstreet.com; dailymarkets.com; & ozforex.com.au]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 3 pts atm (Live)!