Good Morning Traders,US Market Report:U.S. stocks rose Monday as...

Good Morning Traders,

US Market Report:

U.S. stocks rose Monday as commodity prices regained ground, overshadowing worries about the fiscal crisis in Greece that hung over the market.

After a sharp sell-off last week, commodities rebounded Monday. Oil jumped 5% to above $102 a barrel. Silver prices gained 6% and gold rose over 1%.

With no major U.S. economic reports on tap Monday, investors were focused on worsening fiscal problems in Greece. Standard & Poor's cut Greece's credit rating again, and warned that many of the nation's banks are at risk of further downgrades. That came on the heels of rumors last week that the debt-ridden country could abandon the euro or seek another bailout.

"Greece is clearly on the forefront of investors attention today," said Rendino. However, he added that the downgrade was not surprising, and the nation's economic woes are nothing new. [Source: cnnmoney.com]

Market Reflections - Monday, 9th May, 2011

A snap back for commodities, which fell sharply on Friday, led Monday's markets with oil up $5 to $103 and gold up $30 to $1,510. The Dow added to Friday's post-jobs gain, up nearly 1/2 percent to 12,684. [Source: bloomberg.com]

Market Focus in the US this evening

Acceleration in the ex-oil import reading could raise talk that high input costs are passing through. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 45.94 points; and
The SPI Futures are currently: Down 3 points atm.
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Of note in the US this evening:

Import and Export Prices [ Merits extra attention]

Jeffrey Lacker speaks
[Richmond Federal Reserve Bank President - Speech on the economic outlook to business and community leaders of Northern Virginia, followed by press briefing, in Arlington, Virginia.]

Elizabeth Duke speaks
[Federal Reserve Gov. - Speech on community development finance in St. Louis.]

...AND...

Of note in Australia today:

Trade Balance (Mar)
[The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.]

...AND...

Of note elsewhere today/this evening:

Switzerland - Consumer Price Index (MoM) (YoY) (Apr) [ Market moving indicator]

[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]

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Gold is currently trading Down $1.80 & is sitting at US$1,511.30/oz atm [Source: Kitco]
Oil (Nymex Crude) is currently trading Down $0.67 & is sitting at US$101.88/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0789c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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