daytrades feb 21 morning ...

Good Morning Traders,

Firstly, please note that it is a US Federal Holiday this evening for 'Washington's Birthday' (President's Day) and the US markets will be closed.

US Market Report:

U.S. stocks closed higher Friday, with the Dow rising to a two-year high as the two-day meeting of the G-20 finance ministers kicked off in France. With the exception of the Dow, stocks saw modest movement as Wall Street watched the two-day G-20 session. Markets are closed Monday for the U.S. holiday.

While investors said they do not expect any earth-shattering news out of this weekend's G-20 meeting, they are hoping for some clarity from emerging market economies on the issue of inflation.

Ahead of the G-20 meeting, China's central bank said it will raise the reserve requirement ratio for the nation's banks by half a percentage point, marking the second increase so far this year. The government has hiked the reserve requirement six times in 2010, as the country attempts to combat inflation.

"You cannot ignore the fact that commodities have been the story of 2011," said Kevin Mahn, chief investment officer with Hennion & Walsh. "We need to hear what the emerging market economiies are going to do to combat this growing problem."

Crude oil for April delivery climbed over $90-a-barrel mark earlier in the day, following numerous news reports that the situation in Bahrain -- a oil-rich country near Saudi Arabia -- was quickly deteriorating.

U.S. stocks ended at fresh multi-year highs Thursday, as investors focused on an upbeat manufacturing report and looked past indications that inflation is heating up. [Source: cnnmoney.com]

Market Reflections - Friday, 18th February, 2011

Momentum continues in the stock market which closed higher for a third straight week in an otherwise quiet session. The Dow rose more than a half percent to 12,391. The only news aside from Middle East unrest is another credit tightening in China which, in moves to hold back inflation, is expected to continue to raise reserve requirements and interest rates in the months ahead.

Silver, up 80 cents to $32.50, continues to set new multi-year highs, enjoying demand both as a currency and as an industrial metal. Gold was little changed, rising just above $1,385. Hawkish central banker talk in Europe boosted the euro at the expense of the dollar which dipped a half percent to 77.64. Interest rates were little changed. [Source: bloomberg.com]

Market Focus in the US this evening

All US markets will be closed for 'Washington's Birthday' (President's Day). [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 73.11 points; and
The SPI Futures are currently: Down 12 points atm.
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Of note in the US this evening:

There is no 'Economic news' due to be reported in the US this evening.

...AND...

Of note in Australia today:

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

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $4.50 & is sitting at US$1,389.10/oz atm [Source: Kitco]
Oil is currently trading Down $0.16 & is sitting at US$86.20/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0141c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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