Good Morning Traders,
US Market Report:
U.S. stocks rose for third straight day on Tuesday, as investors were bolstered by Microsoft's $8.5 billion deal to buy Skype, along with solid corporate earnings reports and economic data.
"There are just a lot of strong numbers, from earnings to economic data, that keep pushing this market higher," said Frank Davis, director of sales and trading at LEK Securities.
Investors also focused on U.S. import-export data, wholesale inventories and quarterly home prices, as well as the strong Chinese trade report. [Source: cnnmoney.com]
Market Reflections - Tuesday, 10th May, 2011
News was light and posed no challenge to the market's strong momentum as the Dow gained more than 1/2 percent to 12,760. Other markets were little changed including oil, ending over $103, and gold at $1,515. [Source: bloomberg.com]
Market Focus in the US this evening
Strength in exports, tied to global infrastructure construction, is a signature feature of the recovery. [Source: bloomberg.com]
____________________________________________
The DJIA Index finished the last trading session: Up 75.68 points; and
The SPI Futures are currently: Up 47 points atm.
____________________________________________
Of note in the US this evening:- International Trade [
Market moving indicator]
- EIA Petroleum Status Report [
Merits extra attention]
- Treasury Budget [
Merits extra attention]
- Narayana Kocherlakota speaks
[Minneapolis Federal Reserve Bank President - Speech on contingent planning for monetary policy to the Forecasters' Club of New York.]- Dennis Lockhart speaks
[Atlanta Federal Reserve Bank President - Speech on the economic outlook to the Council for Quality Growth in Atlanta.]- Sandra Pianalto speaks
[Cleveland Federal Reserve Bank President - Speech on the economic outlook and monetary policy to the Harvard Clubs of Cincinnati.]
...AND...
Of note in Australia today:- Please note there is no noteworthy 'Economic news' due to be reported in Australia today.
...AND...
Of note elsewhere today/this evening:- Germany - Consumer Price Index (MoM) (YoY) (Apr) [
Market moving indicator]
[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
_____________________________________________
Gold is currently trading Down $0.10 & is sitting at US$1,516.00/oz atm [Source: Kitco]
Oil (Nymex Crude) is currently trading Up $0.10 & is sitting at US$103.98/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0843c against the US Dollar [Source: Forex. Live]
____________________________________________
Have a great day trading today all.
Cheers, Tweets
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