daytrades feb 15 morning ...

Good Morning traders,

US Market Report:

"U.S. stocks ended Monday's session mixed, as investors digested President Obama's 2012 budget proposal in a quiet trading session.

Exxon Mobil, Chevron and Alcoa were among the top performers on the Dow, helped by a Chinese trade balance report that showed a 51% jump in imports last month for the world's now second-largest economy. Copper futures also climbed 2.1% during the session. "Commodities, along with the long-term inflation story, continue be the primary support for this market," said Liz Ann Sonders, Charles Schwab's chief investment strategist. Wal-Mart and Verizon were the biggest losers on the blue-chip index.

President Obama unveiled his administration's $3.7 trillion budget proposal, which will cut the nation's long-term deficit by about $1.1 trillion over the next 10 years. Traders however said there was little for Wall Street to react to in the White House's proposal.

"The budget is not going to have a meaningful impact on equities," said Michael James, senior equity trader at Wedbush Morgan Securities in Los Angeles. "A lot of this was known well in advance." " [Source: cnnmoney.com]

Market Reflections - Monday, 14th February, 2011

"High borrowing rates for periphery economies continue to weigh on the euro which fell a half percent against the dollar to $1.3475. Strong copper imports into China sparked a two percent rally for the metal to $4.62. Precious metals firmed about a half percent on the day while oil held closely near $85 as events continue to unfold in the Middle East. Otherwise activity was quiet making for little movement in the Dow which ended fractionally lower at 12,268. Important news came after the close as FedEx cut earnings guidance due to heavy winter weather and high fuel prices.

Of note, the Obama administration sent Congress its proposed budget which projects a record $1.65 trillion deficit this fiscal year. The deficit would represent 10.8 percent of total output for the highest rate since World War II. Total government spending for fiscal 2012 would be $3.73 trillion making for a projected deficit of $1.10 trillion deficit." [Source: bloomberg.com]

Market Focus in the US this evening

"Auto and gas sales look to be strong in January, but watch for the ex-auto ex-gas reading where a seven-month winning streak is at stake." [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Down 5.07 points; and
The SPI Futures are currently: Up 7 points atm.
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Of note in the US this evening:

Retail Sales [ Market moving indicator]

Empire State Mfg Survey [ Merits extra attention]

Import and Export Prices [ Merits extra attention]

Treasury International Capital [ Merits extra attention]

Business Inventories [ Merits extra attention]

Housing Market Index [ Merits extra attention]

Sandra Pianalto speaks
[Cleveland Federal Reserve Bank President - Speech on regional and national economic conditions to Women's Boards of Summa Health Systme in Akron, Ohio.]

Of note in Australia today:

RBA Meeting's Minutes [ Merits extra attention]
[The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.]

...AND...

Of note in China today:

M2 Money Supply (YoY) (Jan) [ Merits extra attention]

Consumer Price Index (YoY) (Jan) [ Merits extra attention]

Producer Price Index (YoY) (Jan) [ Merits extra attention]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $5.20 & is sitting at US$1,362.00/oz atm [Source: Kitco]
Oil is currently trading Down $0.77 & is sitting at US$84.81/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0029c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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