daytrades july 1 morning ...

Happy New Year Traders (thanks for the handover highlandlad),

I won't be around to close the 'Morning thread' off today either and highlandlad will be doing me the honours once again; and just like yesterday I will also be providing the '2pm Economic News Courtesy Reminder' in this post also fyi.

Dow Snapshot

"Stocks finished lower after a late-session retreat, as investors piled out of a downbeat quarter that ended with Wednesday's session. The major indexes had teetered on either side of breakeven throughout the day as investors weighed a weak jobs report against an improved European bank outlook that provided earlier support. Wednesday's session marked the end of the second quarter, during which the blue-chip Dow fell more than 10% on concerns about Europe's debt and the overall global economy. The Nasdaq and S&P 500 each lost 12% in the second quarter."[Source: cnnmoney.com]

The DJIA Index finished the session: Down 96.28 pts; and
The SPI Futures are currently: Down 30 pts atm.

Of Note in Australia today:

Building Permits (YoY) (May)
[The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.]
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Market Reflections for previous session ie; 30.06.2010

"Another three percent day for the stock market, this time down. Consumer confidence plunged in June, hit hard by the oil spill and reflecting job trouble nationwide. The Conference Board's report focuses on the jobs market and the results are a reminder that jobless claims have been high -- pointing to trouble for the monthly jobs report. And that's what the market did today: it discounted disappointment on Friday with the S&P ending at 1,041 for a 3.1 percent loss. Rates are falling hard as investors seek out safety. The 30-year Treasury yield is now below 4.00 percent at 3.93 percent. The 10-year is below 3.00 percent at 2.95 percent. The dollar gained on the move to safety with the dollar index up 0.6 percent to 86.09. Safety isn't the euro's best asset as the currency fell 3/4 of a cent to $1.2200. With the exception of gold, commodities moved lower with oil down $2-1/2 to $75.50. Gold ended little changed just under $1,240." [Source: nasdaq.com - Mark Pender]

Market Focus on the DOW this evening

"A rise in jobless claims could overshadow strength in today's other indicators." [Source: nasdaq.com - Mark Pender]

Of Note in the US tonight:

ISM Mfg Index [Market moving indicator]
[The Institute for Supply Management surveys more than 300 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. A composite diffusion index of national manufacturing conditions is constructed, where readings above (below) 50 percent indicate an expanding (contracting) factory sector. Export orders, import orders, backlog orders and prices paid for raw and unfinished materials are also measured, but these are not included in the overall index.]

Pending Home Sales Index [Market moving indicator]
[The National Association of Realtors developed the pending home sales index as a leading indicator of housing activity. As such, it is a leading indicator of existing home sales, not new home sales. A pending sale is one in which a contract was signed, but not yet closed. It usually takes four to six weeks to close a contracted sale.]

Motor Vehicle Sales [Merits extra attention]
[Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending.]

Jobless Claims [Merits extra attention]
[New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.]

Construction Spending [Merits extra attention]
[The dollar value of new construction activity on residential, non-residential, and public projects. Data are available in nominal and real (inflation-adjusted) dollars.]

EIA Natural Gas Report [Merits extra attention]
[The Energy Information Administration (EIA) provides weekly information on natural gas stocks in underground storage for the U.S., and three regions of the country. The level of inventories helps determine prices for natural gas products.]

Tim Geithner speaks [Merits extra attention]
[Treasury Secretary - Testifies before the Senate Foreign Relations Committee on the G-20 Leaders Summit, the U.S.-China Strategic & Economic Dialogue and multilateral development banks.]

Monster Employment Index
[The Monster Employment Index is a comprehensive monthly analysis of U.S. online job demand. It is conducted by Monster Worldwide, Inc. and is based on a real-time review of a large, representative selection of career sites and job boards, including Monster," according to Monster Worldwide. The Index presents a snapshot of employer online recruitment activity nationwide. It was launched in April 2004 with data collected since October 2003.]

Money Supply
[The monetary aggregates are alternative measures of the money supply by degree of liquidity. Changes in the monetary aggregates indicate the thrust of monetary policy as well as the outlook for economic activity and inflationary pressures.]

10-Yr TIPS Announcement
[The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions. Competitive bids at these single-price auctions determine the interest rate paid on each issue, which remains fixed.]

3-Month Bill Announcement; and 6-Month Bill Announcement [and Weekly Bill Settlement]
[Treasury bills are sold at public auctions every week.]

10-Yr TIPS Announcement
[The Treasury sells inflation-indexed securities, also known as TIPS, at regularly scheduled auctions. Competitive bids at these single-price auctions determine the interest rate paid on each issue, which remains fixed.]

... AND ...

There is no noteworthy 'Economic news' due to be released in Australia tomorrow.

[Sources used: nasdaq.com and fxstreet.com]
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Gold is trading Down $0.80 atm and is currently sitting at $1,241.60/oz [Source: Kitco];
Oil is currently trading down $0.43 atm and is currently at $75.01/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.8418 cents [Source: Forex. Live].

Have a great day trading today all!

Cheers, Tweets (:

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