daytrades december 13 morning ...

Good morning Traders,

DOW Snapshot from the previous trading session

"There's a growing sense of optimism on Wall Street about the economy, but this week's busy calendar could test the bull's resolve. But as of last Friday, the Dow and S&P 500 are on track to finish 2010 with 10% gains each, while the Nasdaq is up 16% year to date.

The market has been supported by increasing signs that the recovery is gaining some momentum. Earlier this month, economists at Goldman Sachs raised their 2011 forecast for inflation-adjusted U.S. growth to 2.7% from 1.9%, based on gradual improvement in demand.

"The market has been doing pretty well," said Alec Young, equity strategist at Standard & Poor's. "The recovery continues nice and steady in the U.S. and the market looks like it could go higher if that stays intact."

And 'if' is the key word. Investors will have several economic reports to chew on this week, including readings on inflation, retail sales and new home construction.

It's not just the U.S. economy on investors' minds. Europe continues to suffer from debt problems in certain countries, while a report over the weekend showed Chinese inflation continues to rise.

Investors are also closely monitoring developments in Washington. The Federal Reserve's policy makers meet Tuesday, while the debate in Congress over tax cuts and fiscal stimulus is expected to continue.

"The tax debate is a big question mark right now," said Dan Greenhaus, chief market strategist with Miller, Taback & Co. There is also speculation that the Fed may scale back its plan to buy $600 billion worth of U.S. Treasuries, he said." - [Source: cnnmoney.com]

The DJIA Index finished the last trading session Up 40.26; and
The SPI Futures are currently: Up 12 pts atm.

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due to be released in the US this evening;

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to be released in Australia today either.

[Sources Used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

Gold is currently trading Down $1.20 & is sitting at US$1,385.80/oz atm [Source: Kitco]
Oil is currently trading Down $0.58 & is sitting at US$87.79/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9837 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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