Good Morning traders,US Market Report:"U.S. stocks finished at...

Good Morning traders,

US Market Report:

"U.S. stocks finished at the highest level in more than two years Wednesday, propelled by a $20 billion merger in the pharmaceutical sector and a batch of solid corporate earnings.

"We've been talking about a pickup in M&A deals, and we expect to see more to take place over the course of the year," said Matt King, chief investment officer at Bell Investment Advisors. "It's a sign that corporate America is more confident about doing business again." " [Source: cnnmoney.com]

Market Reflections - Wednesday, 16th February, 2011

"Non-energy non-food prices at the producer level show surprising pressure yet are not changing the outlook for continued Federal Reserve accommodation. But a similar result, however unlikely, in tomorrow's report on consumer prices would be a different story. FOMC minutes show an increasing debate at the Fed but only a hint that QE2 could be scaled back.

The day's other news include a weather-obscured housing starts report and solid manufacturing growth in the industrial production report, growth led by capital-goods production. Heavy equipment maker Deere underscores this strength, posting strong results that helped boost stocks.

The Dow rose a half percent to 12,288. Oil ended right at $85 which is where it was before the Egyptian unrest began. Gold finished where it was all day yesterday, at $1,375. Interest rates and the dollar were also little changed." [Source: bloomberg.com]

Market Focus in the US this evening

"An unexpected price breakout into core consumer inflation would likely push interest rates higher and add an edge to Ben Bernanke's testimony." [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 61.53 points; and
The SPI Futures are currently: Up 11 points atm.
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Of note in the US this evening:

Ben Bernanke speaks [ Market moving indicator]
[Federal Reserve Chairman - To testify before Senate Banking Committee on Dodd-Frank reforms, with SEC Chair Mary Schapiro, FDIC Chair Sheila Bair, and CFTC Chair Gary Gensler, in Washington.]

Consumer Price Index [ Market moving indicator]

Jobless Claims [ Market moving indicator]

Philadelphia Fed Survey [ Market moving indicator]

Dennis Lockhart speaks
[Atlanta Federal Reserve Bank President - Will ask questions of Irish Ambassador Michael Collins at World Affairs Council discussion in Atlanta.]

Richard Fisher speaks
[Dallas Federal Reserve Bank President - Speech on the economy and the Fed at a community forum in Houston.]

Charles Evans speaks
[Chicago Federal Reserve Bank President - Speech on the economic outlook to the Rockford Chamber of Commerce in Rockford, Ill.]

...AND...

Of note in Australia today:

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

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $2.30 & is sitting at US$1,375.60/oz atm [Source: Kitco]
Oil is currently trading Up $0.67 & is sitting at US$84.99/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0023c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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