daytrades dec 9 pre-market, page-3

Thanks HLL, having a real struggle with HC this morning, was lucky not to lose this post.

US market results (10 min charts)



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http://www.businessspectator.com.au/bs.nsf/Article/US-STOCKS-Futures-mixed-as-bond-yields-rise-BXGZQ?OpenDocument&src=hp8


Reuters

NEW YORK - US stocks ended up slightly, with the S&P 500 closing at its highest level since September 2008, as gains in financial and technology stocks offset declines caused by a recent surge in bond yields.

Earlier, benchmark yields hovered at their highest in six months, while the US dollar index gained 0.4 per cent as the deal to extend tax cuts fuelled concern about inflation and the costs of the government's debt burden.

Bond yields trimmed some of their gains following a $US21 billion Treasury auction, boosting stocks slightly.

Higher bond yields make it more expensive for consumers and businesses to borrow, while stocks and the dollar have moved in opposite directions of late. A rise in yields and the dollar could also draw money away from equities.

"I think rates would have to be a lot higher to impact corporations' bottom lines. But, at the same time, when the market sees rates going higher, that's certainly a negative for corporations on the whole," Jones Villalta Asset Management portfolio manager Thomas Villalta said.

Some analysts expect the market to trade sideways for a few days before mounting an upward move heading into the year's end.

Bob Doll, chief investment strategist at BlackRock, told the Reuters 2011 Investment Outlook Summit Wednesday the deal to extend the Bush-era tax cuts should accelerate the move of cash into equities and out of fixed income.

On the Dow, McDonald's Corp was the biggest drag, falling 2.7 per cent to $US78.14 after reporting weaker-than-expected global sales for November.

Steady economic improvement should fuel stock gains through 2011, according to a Reuters poll of investors and strategists, but international concerns could limit advances in the second half of the year.

The median forecast from 50 respondents in the US poll was for the S&P 500 to end 2011 at 1,325.

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The trendlines on the DJIA really are working a treat with some precise hits over the last few sessions.

DJIA daily



USD daily



XJO daily