Thanks Endless and Good Morning all,
US - Market Reflections - Wednesday 6th July, 2011
Bargain hunting continued in the stock market despite a Chinese rate hike, despite sovereign concerns in Europe, and despite soft economic signals from the ISM non-manufacturing report. The Dow rose nearly 1/2 percent to 12,626. Yet demand for safety remains high, reflected in a $15 gain for gold to $1,530 and in the weekly 4-week T-bill auction where the award rate, for the first time in a year-and-a-half, was zero percent. A 1/2 percent gain for the dollar index also points to a safety premium.
Market Focus in the US this evening
A big change up or down for jobless claims could jostle expectations for tomorrow's employment report.
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The DJIA Index finished the last trading session: Up 56.15 points; and
The the SPI Futures are currently trading: Down 8 point.
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On the 'Economic news' front, please note the following:-
Of note in the US this evening:
BOE Announcement
ECB Announcement
Jobless Claims
ADP Employment Report
EIA Petroleum Status Report
Thomas Hoenig speaks
[Kansas City Federal Reserve Bank President - Speech to the Chickasaw Nation Business and Community Leaders lunch in Ada, Oklahoma.]
Of note in Australia today:
Unemployment Rate s.a. (Jun)
Employment Change s.a. (Jun)
AiG Performance of Construction Index (Jun)
Of note elsewhere today/this evening:
Switzerland - Consumer Price Index (MoM) (YoY) (Jun)
United Kingdom - Industrial Production (YoY) (May)
United Kingdom - Manufacturing Production (YoY) (May)
Germany - Industrial Production s.a. w.d.a. (YoY) (May)
Germany - Industrial Production s.a. (MoM) (May)
Canada - Ivey Purchasing Managers Index (Jun)
United Kingdom - NIESR GDP Estimate (3M) (Jun)
Japan - Trade Balance - BOP Basis (May)
- denotes: Market Moving Indicator
- denotes: Merits Extra Attention
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Gold is currently sitting trading Down $2.20 atm and is sitting at US$1,527.20/oz atm;
Oil (Nymex Crude) is currently trading Up $0.55 atm and is sitting at US$97.20/bbl atm
The Dollar: The AUD is currently trading @ $1.0699c against the US Dollar
Sources used above: bloomberg.com; nasdaq.com; dailyfx.com; fxstreet.com; & kitco.com
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Have a great day.
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