daytrades feb 28 morning ...

Good morning Traders,

US Market Report:

Investors will shift their focus this week to the U.S. job market, with the government's all-important monthly report due at the end of the week.

"We don't have the patience for another bad report," said Paul Zemsky, head of asset allocation at ING Investment Management. "Everywhere else you look in the labor market - consumer confidence, initial jobless claims - things are looking up. But we need to see the improvement actual jobs report."

February's jobs report is expected to carry more weight than January. Several economists dismissed that report as a statistical fluke because of the snowstorms that slammed much of the nation. In January, the economy added a paltry 36,000 jobs, falling far short of expectations.

Meanwhile, if Libya's political crisis worsens or spreads, stocks could be in for a wild ride. "Libya is the wildcard," said Zemsky. "If violence in oil producing countries continues it's going to easily bring more fear into the stock and oil markets." [Source: cnnmoney.com]

Market Reflections - Friday, 25th February, 2011

Spirits extended their improvement into Friday following wide assurances, including from Saudi Arabia, that oil will remain abundant. Still, oil swung up and down to end $2 higher at $98 to erase the bulk of Thursday's decline. But the Dow, which fell yesterday, rebounded today, up a 1/2 percent to 12,130.

Aside from the stock market, most financial prices indicate rising demand for safety including a $10 gain in gold to $1,410, a 75 cent gain for silver to $33.30, and another decline in the Treasury yield curve which fell two basis points on the short end (to 0.71 percent for the 2-year note) and four basis points on the long end (to 4.50 percent for the 30-year). [Source: bloomberg.com]

Market Focus in the US this evening

The spike in oil puts the emphasis on the most timely data possible. A slowing in the Chicago PMI could hint at oil-related headwinds. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 61.95 points; and
The SPI Futures are currently: Up 20 points atm.
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Of note in the US this evening:

Personal Income and Outlays [ Market moving indicator]

Pending Home Sales [ Market moving indicator]

Chicago PMI [ Merits extra attention]

William Dudley speaks
[New York Federal Reserve Bank President - Speech on the economic outlook to the New York University Stern School of Business.]

Eric Rosengren speaks
[Boston Federal Reserve Bank President - On panel discussing lessons from the global meltdown at Boston University.]

...AND...

Of note in Australia today:

Company Gross Operating Profits (QoQ) (Q4)
[The Company Gross Operating Profits released by the Australian Bureau of Statistics measures the total amount of pre-tax profits earned from business activities, excluding interest expense on borrowing and valuation adjustments. A high reading is seen as positive (or bullish) for the AUD because good business conditions are a sign of a strong consumer spending and import/ export activity, while a low reading is seen as negative (or bearish).]

Private Sector Credit (MoM) (YoY) (Jan)
[The Private Sector Credit released by the Reserve Bank of Australia is an amount of money that the Australian private sector borrows. It shows if the private sector can afford large expenses, which can fuel economic growth. It is considered as an indicator of business conditions and the overall economic condition in Australia. Generally, a high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative.]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $7.50 & is sitting at US$1,409.60/oz atm [Source: Kitco]
Oil is currently trading Up $0.60 & is sitting at US$97.88/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0154c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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