daytrades march 1 morning ...

Good morning Traders,

US Market Report:

Following its worst week since August, the Dow Jones industrial average got a boost Monday, after a government report showed Americans are earning and saving more.

A report showing that personal incomes climbed 1% in January got investors in an upbeat mood early Monday, even though most of that increase was due to a 2% payroll tax holiday passed by legislators in late 2010. "We saw a knee-jerk reaction to that headline," said Jack Ablin, chief investment officer of Harris Private Bank in Chicago. "I'm surprised that number wasn't already baked into the market."

Monday marks the last day of a volatile month. Stocks started February off strong on the back of solid company earnings reports, but uprisings in the Middle East and in Libya have sent oil prices skyrocketing and stocks falling.

Investors and economists worry that high energy prices could cut into company profits and consumer spending, slowing the economy. "It's really been kind of a tough month," Ablin said. "I'm hopeful that as long as consumers believe higher energy prices are temporary, I think we can work our way through this."

Despite the recent volatility, stocks are off to a strong start this year. The major indexes are all up nearly 5% so far in 2011, and February looks to be the third month in a row of stock gains. [Source: cnnmoney.com]

Market Reflections - Monday, 28th February, 2011

The business world continues to watch and wait as events unfold in Libya and the Middle East. West Texas Intermediate is holding relatively stable in the $97 area. The day's economic news was mixed with a very strong purchasing report from Chicago offset by soft personal spending and pending home sales data on the national level. Merger deals here and abroad helped the Dow which rose 0.8 percent to 12,226.

Short rates moved slightly lower with the 2-year Treasury yield down two basis points to 0.69 percent. Lower interest rates continue to hurt the dollar which fell about a half percentage on the dollar index to 76.90. [Source: bloomberg.com]

Market Focus in the US this evening

Markets will get a burst of headlines at ten o'clock. Watch for any shifts in Bernanke's take on the jobs market and whether ISM manufacturing data for February can match January's robust pace. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 95.89 points; and
The SPI Futures are currently: Up 20 points atm.
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Of note in the US this evening:

Ben Bernanke speaks [ Market moving indicator]
[Federal Reserve Chairman - Semi-annual monetary policy report to the Senate Banking Committee in Washington.]

Bank of Canada Announcement [ Market moving indicator]

ISM Mfg Index [ Market moving indicator]

Motor Vehicle Sales [ Merits extra attention]

Construction Spending [ Merits extra attention]

...AND...

Of note in Australia today:

RBA Interest Rate Decision (Mar) [ Market moving indicator]
[RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.]

Current Account Balance (Q4) [ Merits extra attention]
[The Current Account Balance released by the Australian Bureau of Statistics is a net flow of current transactions, including goods, services, and interest payments into and out of Australia. A current account surplus indicates that the flow of capital into Australia exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative (or Bearish).]

AiG Performance of Mfg Index (Feb)
[AiG performance of the Mfg Index released by the Australian Industry Group presents business conditions in the Australian manufacturing sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]

Retail Sales s.a. (MoM) (Jan)
[The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.]

RBA Commodity Index SDR (YoY) (Feb)
[The RBA Commodity Price SDR released by the Reserve Bank of Australia is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the AUD, while a decrease in prices may indicate weakness of the AUD. A high reading is seen as bullish for the AUD, whereas a low reading is seen as bearish.]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
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Gold is currently trading Up $1.60 & is sitting at US$1,411.20/oz atm [Source: Kitco]
Oil is currently trading Down $0.91 & is sitting at US$96.97/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0181c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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