daytrades july 23 morning ...

Happy Mufti Day Traders (thanks for handover highlandlad),

DOW overnight Snapshot

"Stocks rallied Thursday after better-than-expected earnings and forecasts from 3M, Caterpillar, AT&T and UPS helped reassure investors about the pace of the economic recovery. Stocks slumped Wednesday after Federal Reserve Chairman Ben Bernanke told Congress the outlook for the economy was "unusually uncertain," adding to worries about the pace of the recovery. But the tone was positive Thursday, on the back of improved earnings, better-than-expected housing market news and a surge in European markets."

"After the close, Dow component Microsoft reported higher quarterly sales and earnings that topped estimates, thanks to strong sales of its Windows 7 and a better personal computer market than in recent months. Shares were barely changed after the close. Also after the close, Dow component American Express reported higher quarterly sales and earnings that topped expectations. But AmEx's CEO said the company remains cautious about the economic outlook and shares dipped 1% in after-hours trading." [Source: cnnmoney.com]

The DJIA Index finished the trading session: Up 201.77 pts; and
The SPI Futures are currently: Down 64 pts atm.

Of Note in the US this evening:

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

... and ...

Of Note in Australia today:

Import Price Index (QoQ) (Q2)
[Import Price Index informs the changes in the price of imported products. It''s released by the Australian Bureau of Statistics. The higher the cost of imported goods, the stronger the effect they will have on inflation, redunding in a higher probability of a rate rise. Therefore, a high reading should be taken as positive, or bullish, for the AUD.]

Export Price Index (QoQ) (Q2)
[Export Price Index informs of the changes in the price of exports. It's released by the Australian Bureau of Statistics. Agricultural products and minerals cover over the 60% of manufacturing exports. Thus, the changes in commodity prices affect the Australian economy. Low volatility for the AUD is expected. A rise in prices is a threat over the mid-term as higher prices mean lower demands to be expected.]

[Sources used: nasdaq.com & fxstreet.com]

Gold is trading Up $1.20 atm and is currently sitting at $1,195.70/oz [Source: Kitco];
Oil is currently trading Down $0.12 atm and is currently at $79.18/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading at 0.8946 cents [Source: Forex. Live].

Have a great day trading today all!

Cheers, Tweets

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