daytrades jan 27 morning ...

Good morning Traders,

US Market Report:

"Stocks held onto gains Wednesday afternoon, with the Dow still hovering near the 12,000 mark, after the Fed kept rates steady and left its bond-buying plan alone.

President Obama's State of the Union address late Tuesday helped push stocks higher from the open.

"The speech last night created a more business-friendly environment," said Michael Sheldon, chief market strategist at RDM Financial Group. "He emphasized working with businesses to promote investment and jobs, whereas a year ago the White House was criticizing financial institutions." " [Source: cnnmoney.com]

Market Reflections - Wednesday, 26th January, 2011

"No surprises and no dissenters made for little reaction to the year's first FOMC. We'll have to wait until QE2 begins to wind down around mid year before the policy debate really heats up. For now, employment is too soft and non-core inflation is too quiet to derail Federal Reserve accommodation.

The Dow ended fractionally higher just under 12,000 at 11,985. Six days of selling in oil failed to trip long liquidation, evident by today's nearly two percent rise to just under $88. Gold firmed nearly one percent to $1,344.

Strength in the euro, tied to strengthening confidence in the union, continues to weigh on the dollar as the dollar index slipped 0.3 percent to 77.81. Strength in the euro is also limiting the need for safety and is lowering demand for Treasuries where the 10-year yield jumped nearly 10 basis points on the day to 3.41 percent." [Source: bloomberg.com]

Market Focus in the US this evening

"Three market-movers today! Yet improvement in jobless claims would top everything." [Source: bloomberg.com]

The DJIA Index last finished the last trading session Up 8.25 points; and
The SPI Futures are currently: Up 29 points atm.

Of note in the US this evening:

Durable Goods Orders [ Market moving indicator]

Jobless Claims [ Market moving indicator]

Pending Home Sales Index [ Market moving indicator]

...AND...

Of note in Australia today:

Westpac Leading Index (MoM) (Nov)
[The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Generally speaking, the more positive the reading, the better for the currency, while a low reading is seen as negative (or bearish)]

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

Gold is currently trading Up $13.30 & is sitting at US$1,346.10/oz atm [Source: Kitco]
Oil is currently trading Up $1.14 & is sitting at US$87.33/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9985c against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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