Good Morning Traders,
US Market Report:
U.S. stocks ended a choppy session lower Monday as investors remain focused on oil prices and the debt crisis in Europe. Stocks opened lower following a dour manufacturing report and weaker-than-expected earnings from home improvement retailer Lowe's. After posting gains in the morning, stocks fell anew in the afternoon.
Trading has been volatile recently as commodities such as oil and silver have fallen sharply from record highs. Investors are also bracing for the conclusion of the Federal Reserve's bond-buying program at the end of June. Just two weeks ago, stocks were sitting at their highest levels in nearly three years. But all three major indexes are down almost 2% in May.
"The market is in a wait-and-see mode after a very volatile week last week," said Kate Warne, chief investment strategist with Edward Jones. [Source: cnnmoney.com]
Market Reflections - Monday, 16th May, 2011
Soft economic data together with disappointing sales from home-improvement chain Lowe's weighed on the Dow which fell nearly 1/2 percent to 12,548. Empire State data point to slowing for the manufacturing sector this month while data from the nation's home builders point to continued stagnation for the new home market. Oil softened to $97 with gold steady above $1,490. [Source: bloomberg.com]
Market Focus in the US this evening
The manufacturing component of the industrial production report has been on fire. Will it extend its run to 10 straight monthly gains? [Source: bloomberg.com]
____________________________________________
The DJIA Index finished the last trading session: Down 47.38 points; and
The SPI Futures are currently: Down 16 points atm.
____________________________________________
Of note in the US this evening:- Housing Starts [
Market moving indicator]
- Industrial Production [
Market moving indicator]
- Building Permits (MoM) (Apr) [
Merits extra attention]
...AND...
Of note in Australia today:- RBA Meeting's Minutes [
Market moving indicator]
[The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.]
...AND...
Of note elsewhere today/this evening:- United Kingdom - Core Consumer Price Index (YoY) (Apr) [
Market moving indicator]
- United Kingdom - Consumer Price Index (MoM) (Apr) (YoY) [
Market moving indicator]
- Germany - ZEW Survey - Economic Sentiment (May) [
Merits extra attention]
- European Monetary Union - ZEW Survey - Economic Sentiment (May) [
Merits extra attention]
- European Monetary Union - EcoFin Meeting [
Merits extra attention]
- New Zealand - Producer Price Index - Input & Output (QoQ) (Q1) [
Merits extra attention]
- Japan - Tertiary Industry Index (MoM) (Mar) [
Merits extra attention]
[Sources used: bloomberg.com; dailyfx.com; fxstreet.com; nasdaq.com]
_____________________________________________
Gold is currently sitting neutral atm and is trading at US$1,489.80/oz [Source: Kitco]
Oil (Nymex Crude) is currently trading Down $0.36 & is sitting at US$97.01/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0558c against the US Dollar [Source: Forex. Live]
____________________________________________
Have a great day trading today all.
Cheers, Tweets
Please click here to go to the 'Pre-Market thread'
- Forums
- ASX - Day Trading
- daytrades may 17 morning ...
daytrades may 17 morning ...
-
- There are more pages in this discussion • 212 more messages in this thread...
This thread is closed.
You may not reply to this discussion at this time.
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, MD & CEO
Anthony Noble
MD & CEO
Previous Video
Next Video
SPONSORED BY The Market Online