daytrades december 7 morning ...

Good Morning Traders (and thanks Highlandlad),

DOW Snapshot from the previous trading session

"Precious metals like gold and silver took center stage Monday as few investors showed a willingness to jump into the stock market fray on a day with no major economic news on tap.

Stock trading volume was lower than average, and major indexes ended mixed after drifting around breakeven for most of the day. Stocks were reacting to Fed chairman Ben Bernanke's pessimistic outlook about the nation's economy.

Commodities -- especially energy and metals -- surged as stocks drifted. Oil prices are hovering at two-year highs, while silver hit a 30-year record high.

"Stocks and oil had been basically moving in tandem, but oil has started to get ahead of itself," said Andrew Lebow, senior vice president at MF Global. "Crude's near highs we haven't seen since the good old days." - [Source: cnnmoney.com]

Bernanke's outlook:

Bernanke told CBS's "60 Minutes" that it could be 4 or 5 years before the economy is back to a normal unemployment rate. He also said fears of inflation are overstated, and that the central bank could resort to another round of stimulus by buying up Treasuries." - [Source: cnnmoney.com]

The DJIA Index finished the last trading session Down 19.90; and
The SPI Futures are currently: Down 2 pts atm.

Of note in the US this evening:

Bank of Canada Announcement [Market moving indicator]

Consumer Credit (Oct) [Moderate volatility expected]

...AND...

Of note in Australia today:

RBA Interest Rate Decision [High volatility expected]
[RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.]

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

Gold is currently trading Up $9.20 & is sitting at US$1,423.70/oz atm [Source: Kitco]
Oil is currently trading Up $0.19 & is sitting at US$89.38/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9894cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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