daytrades jan 25 morning ...

Good morning Traders,

DOW Snapshot:

"Stocks continued their eight-week winning streak Monday, with the Dow marching toward 12,000, as investors anticipate solid quarterly earnings results from the nation's largest companies.

While analysts say a slight pullback could be in the cards soon, companies are reporting strong earnings, which should drive continued positive momentum over the long term.

"American companies are doing quite well, and I think that's going to eventually show up in the employment numbers," said Chad Cunningham, chief investment officer at Iron Horse Capital Management. "If we get any sort of a short-term technical pullback, I think it's a good time to allocate money to U.S. equities."

Meanwhile, Monday looks to be a moderate trading day, devoid of any major economic reports.

"I don't think any one piece of news is driving movement. The market just needs to continue to digest gains for a little bit," Cunningham said.

The rest of the week brings an onslaught of earnings results from blue chip companies, as well as the latest readings on consumer confidence, new home sales and the overall economy. Cunningham said he expects to see slight improvement in all the economic indicators." [Source: cnnmoney.com]

Market Reflections - Monday, 24th January, 2011

"A dividend hike and stock buyback from Intel sent equities higher in an otherwise quiet Monday with the Dow gaining nearly one percent to 11,980. Comments out of Saudi Arabia calling for more production to cut prices sent oil down 1.4 percent to just under $88. Gold also fell 1.4 percent to just over $1,330. Weekly data showing a drop in bond buying by the European Central Bank sent the euro up and the dollar down with the dollar index losing about a quarter point to 77.99." [Source: bloomberg.com]

Market Focus in the US this evening

"Last month's confidence report showed deterioration in the consumer's assessment of the jobs market. Further deterioration could weigh on expectations for the January employment report." [Source: bloomberg.com]

The DJIA Index last finished the last trading session Up 108.68 points; and
The SPI Futures are currently: Up 9 points atm.

Of note in the US this evening:

Consumer Confidence [ Market moving indicator]

S&P Case-Shiller HPI [ Merits extra attention]

...AND...

Of note in Australia today:

Conference Board Australia Leading Index (Nov) [ Moderate volatility expected]
[The Conference Board Australia leading Index released by the Conference Board measures future trends of the overall economic activity including employment, average manufacturing workweek, initial claims, permits for new housing construction, stock prices and yield curve. It forecasts short to mid-term growth in the Australian economy. Generally, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

Consumer Price Index (QoQ) (YoY) (Q4) [ Moderate volatility expected]
[The Consumer Price Index released by the RBA and republished by the Australian Bureau of Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of AUD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or Bearish).]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

Gold is currently trading Down $7.90 & is sitting at US$1,334.50/oz atm [Source: Kitco]
Oil is currently trading Down $1.24 & is sitting at US$87.87/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9974c against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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