daytrades december 23 morning ...

Good Morning Traders,

DOW Snapshot from the previous trading session:

"Stocks climbed to hit fresh two-year highs Wednesday, as investors begin to pack up for the holidays and prepare for 2011. The Dow Jones industrial average (INDU) added 26 points to end 0.2% higher at 11,559.49 -- its highest level since August 28, 2008. The S&P 500 and the Nasdaq have posted gains for 14 of the month's 16 trading sessions so far. All three major indexes are positioned for double-digit gains for the year.

Oil prices were in the spotlight Wednesday after a weekly report showed crude stockpiles dropped by 5.3 million barrels last week. The report sent crude prices up to settle at about $90.48 a barrel. Oil prices haven't settled above $90 a barrel since October 2008.

Stock trading is expected to be light heading into the holiday season. But while there's little news on tap for the rest of the year, stocks have trended upward. Bank stocks were the bright spot Wednesday, with Bank of America and JPMorgan each ending about 3% higher.

"It's a non-event day for the market," said Sal Arnuk, co-head of trading at Themis Trading. "But it's been a great year. So for most of December, traders have been locking in their performance for 2010." Investors are feeling bullish for 2011, Arnuk said, as economic numbers have begun improving. But they're still waiting for corporations to spend the cash they have sitting on balance sheets by hiring new workers.

On Tuesday, the major indexes rose modestly but managed to close at their highest levels in more than two years. Also on Tuesday,Congress approved a temporary spending bill late Tuesday that will fund the government for another 10 weeks." [Source: cnnmoney.com]

Market Reflections - Wednesday, 22nd December, 2010:

"Existing home sales proved solid in November and are helping to boost expectations for moderate recovery in the housing sector. The Dow gained 0.2 percent to 11,559 while oil rose one percent to move over $90 for a new recovery high. Copper is at a record high of $4.26. Interest rates edged higher, up three basis points on the 10-year Treasury to 3.33 percent. Gold ended little changed at $1,385." [Source: bloomberg.com]

The DJIA Index finished the last trading session Up 26.33; and
The SPI Futures are currently: Up 17 pts atm.

Of note in the US this evening:

Durable Goods Orders [Market moving indicator]

Personal Income and Outlays [Market moving indicator]

Jobless Claims [Merits extra attention]

Consumer Sentiment [Merits extra attention]

New Home Sales [Merits extra attention]

EIA Natural Gas Report [Merits extra attention]

...AND...

Of note in Australia today:

RBA Foreign Exchange Transaction (Dec)
[The Foreign Exchange Transactionreleased by the Reserve Bank of Australia shows the movements of the exchange of the AUD for others, likewise others for the AUD. It indicates the climate of foreign investors into the AUD itself. This event causes volatility in the AUD. Generally, an increasing number of investments is seen as positive prospect of the Australian economy (or bullish sentiment for the AUD).

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

Gold is currently trading Down $0.50 & is sitting at US$1,385.00/oz atm [Source: Kitco]
Oil is currently trading Up $0.77 & is sitting at US$90.59/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9991cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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