Happy Mufti Day Traders,
US Market Report:
"U.S. stocks managed to tick higher Thursday afternoon, as investors took in mixed economic reports and the latest batch of corporate earnings. Earlier in the session, the Dow and S&P 500 breached their highest levels in more than two years. But the gains were modest. Though the market has been inching higher and crossing key psychological levels, Stifel Nicolaus managing director Tom Schrader expects stocks won't be able to sustain those levels and will soon head lower.
"We've got a classic bull versus bear battle going at these high levels, and I wouldn't be surprised to see the market pullback between 8% and 10%," he said." [Source: cnnmoney.com]
Market Reflections - Thursday, 27th January, 2011
"Thursday was a solid day for the U.S. economic outlook. Caterpillar led a heavy day of strong earnings underscoring the strength of the manufacturing sector. Durable goods orders, when excluding month-to-month volatility tied to aircraft, were solid for December especially for the capital-goods group which points to a rise for fourth-quarter business investment. Pending home sales are also up which, in a surprise, points to strength for the housing sector this month.
The Dow couldn't hold over 12,000, ending fractionally higher at 11,989. A rating cut for Japan is raising sudden doubt over Asian demand which is hurting commodities including oil which fell two percent to the $85.50 area. Gold fell even more steeply, ending near $1,310 and nearing its 200-day average at $1,287. Rates and the dollar were little changed." [Source: bloomberg.com]
Market Focus in the US this evening
"There is no consensus on fourth-quarter growth with the range spread between plus 2.9 and 5.4 percent." [Source: bloomberg.com]
The DJIA Index last finished the last trading session Up 4.46 points; and
The SPI Futures are currently: Up 11 points atm.
Of note in the US this evening:- GDP [
Market moving indicator]
- Employment Cost Index [
Merits extra attention]
- Consumer Sentiment [
- Real Personal Consumption Expenditures (QoQ) (Q4) [
...AND...
Of note in Australia today:- Please note there is no noteworthy 'Economic news' due to be reported in Australia today.
[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
Gold is currently trading Down $31.20 & is sitting at US$1,314.90/oz atm [Source: Kitco]
Oil is currently trading Down $1.69 & is sitting at US$85.64/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $0.9916c against the US Dollar[Source: Forex. Live]
Have a great day trading today all.
Cheers, Tweets
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daytrades jan 28 morning ...
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