Good Morning Traders,- Firstly our thoughts must go out to all those in the path of Tropical Cyclone Yasi atm, as she heads toward the coast in North Queensland. Please stay safe you guys!
US Market Report:
"U.S. stocks started February with a bang Tuesday, as the three major indexes rose more than 1% and the Dow topped 12,000 for the fourth time in a week.
Investors overcame ongoing jitters over protests in Egypt and new developments in Jordan, where the king dismissed his government and appointed a new prime minister." [Source: cnnmoney.com]
Market Reflections - Tuesday, 1st February, 2011
"Expectations that Egypt's Mubarak is about to concede drove money out of safe investments and into the stock market where the Dow jumped 1.3 percent to 12,046. Also giving stocks a boost is one of the strongest ISM manufacturing reports ever, a report boosted strongly by only two thirds of its industry groups as housing-related industries, such as wood products and furniture, continue to contract. Construction spending for December, also released during the session, fell steeply.
Judging by losses in the dollar and gains for interest rates, one would think that the Egyptian question has already been resolved, that there is no risk of deepening political uncertainty in the Middle East. The dollar index fell one percent to 76.98 while the 2-year Treasury yield rose five basis points to 0.61 percent. Oil fell back nearly two percent to the $90.50 area while gold firmed but only very slightly to $1,340." [Source: bloomberg.com]
Market Focus in the US this evening
"Aside from Egypt and despite January's bad miss, ADP's estimate for February will get the market's close attention." [Source: bloomberg.com]
The DJIA Index last finished the last trading session Up 148.23 points; and
The SPI Futures are currently: Up 42 points atm.
Of note in the US this evening:- ADP Employment Report [
Merits extra attention]
- EIA Petroleum Status Report [
...AND...
Of note in Australia today:- HIA New Home Sales (MoM) (Dec) [
[HIA New Home Sales released by the Housing Industry Association presents the number of new home sales in Australia. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees. Thus, a high reading is seen as bullish (or positive) for the AUD, whereas a low reading is seen as bearish (or negative).]
[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
Gold is currently trading Up $8.90 & is sitting at US$1,341.90/oz atm [Source: Kitco]
Oil is currently trading Down $1.42 & is sitting at US$90.77/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0106c against the US Dollar[Source: Forex. Live]
Have a great day trading today all.
Cheers, Tweets
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