daytrades jan 10 morning ...

Good morning Traders,

DOW Snapshot from the previous trading session:

"U.S. stocks came off session lows but ended weaker Friday afternoon after a court ruled against Wells Fargo and US Bancorp in a foreclosure case. The ruling sparked a sell off in bank stocks that rippled through the broader market. Investors also reacted to the government's latest reading on the labor market. The U.S. economy added slightly fewer-than-expected jobs in December, but the unemployment rate edged lower than economists had anticipated.

"Investors are torn," said Jack Ablin, chief investment officer at Harris Private Bank. "They are disappointed by the number of jobs added, but are perhaps celebrating a lower unemployment rate." Wall Street geared up for the jobs report all week. Investors were hoping to see signs of an improving job market, but were left underwhelmed.

"The report has basically become a non-event," said Ron Kiddoo, chief investment officer at Cozad Asset Management. "If we had seen a better number, investors would have used the news to drive stocks higher."

Despite the lackluster day on Wall Street, stocks have had a good start to the new year. For the week, the Dow and S&P closed up about 1%, while the Nasdaq has gained almost 2%." [Source: cnnmoney.com]

Market Reflections - Friday, 7th January, 2011

"Job growth remains frustratingly slow and remains Ben Bernanke's top concern. Non-farm payroll growth of 103,000 fell short of expectations and fell way short of ADP's call for roughly triple that. Bernanke repeated his warning that four or five years are needed before the labor market returns to normal.

Treasury rates, which jumped after ADP's estimate on Wednesday, are coming back down, seven basis points lower on the 2-year note to 59 basis points and eight basis points lower on the 10-year to 3.32 percent.

Equities were little changed as were commodities. But the dollar is moving, adding to the week's gain as concern deepens over Portugal. The euro lost nearly one cent to $1.2928. The dollar index rose three tenths to 81.05." [Source: bloomberg.com]

Market Focus in the US this evening

"Watch for revised economic estimates in the wake of Friday's soft jobs report." [Source: bloomberg.com]

The DJIA Index finished the last trading session Down 22.55 points; and
The SPI Futures are currently: Down 17 points atm.

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due to reported in the US this evening;

...AND...

Of note in Australia today:

Retail Sales Trend (MoM) (Nov) [Moderate volatility expected]
[The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.]

AiG Performance of Construction Index (Dec) [Moderate volatility expected]
[Based on 120 interviews to companies, the HIA/AiG Performance of Construction Index, released by the Australian Industry Group and the Housing Industry Association, is considered as an indicator that measures the conditions on the short and medium term in the construction market. Companies answer questions related to production, employment, prices supplier deliveries, inventories and new orders. A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.]

ANZ Job Advertisements (Dec)
[The ANZ job advertisements released by the Australia and New Zealand Banking Group Limited (ANZ) presents the number of job advertisements in the major metropolitan newspapers and on the internet sites. It is used for forecasting employment growth in Australia as it indicates future labor market conditions.A high reading is seen as bullish (or postive) 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 Down $1.30 & is sitting at US$1,369.80/oz atm [Source: Kitco]
Oil is currently trading Down $0.35 & is sitting at US$88.03/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9946c against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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