daytrades may 2 morning ...

Good Morning Traders,

US Market Report:

Wall Street will have a busy five days to look forward to this week, with investors getting several closely watched economic reports while also digesting dozens of corporate earnings results.

The main event comes Friday, when the Labor Department releases its April jobs report. Wall Street economists are looking for around 200,000 new private sector, non-farm jobs, according to economists surveyed by Briefing.com. The unemployment rate is expected to tick higher to 8.9%.

Jobs remain the biggest sore spot in this recovery, both politically and economically. Other indicators - including manufacturing and consumer confidence - have shown progress since the recession ended 18 months ago.

"The labor market has been extremely disappointing," said Adolfo Laurenti, chief U.S. economist with Mesirow Financial. "We are well behind historical norms."

Unless the jobs figures come in at or better than expectations, expect May to be a difficult month for stocks, investors said.

Earnings season continues to roll along this week. More than 100 companies will report in the next five days, while 323 members of the S&P 500 have already posted financial results for their latest quarter. [Source: cnnmoney.com]

Market Reflections - Friday 29th April, 2011

Not all company earnings are strong, but low interest rates together with strong foreign markets are pointing to faster economic growth ahead. The Dow extended gains, up slightly to 12,810. Low rates increase the attraction of holding gold which tested $1,570, up as much as $35 on the day. Oil ended under $114. [Source: bloomberg.com]

Market Focus in the US this evening

A higher reading for the ISM supplier deliveries index would indicate lengthening delays that could be evidence of Japanese supply snags. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Up 47.23 points; and
The SPI Futures are currently: Up 32 points atm.
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Of note in the US this evening:

ISM Mfg Index [ Market moving indicator]

Construction Spending [ Merits extra attention]

...AND...

Of note in Australia today:

TD Securities Inflation (MoM) (YoY) (Apr) [ Merits extra attention]
[TD Securities Inflation released by The University of Melbourne - Faculty of Economics and Commerce estimates inflation in the Australian economy. The higher inflation, the stronger the effect it will have on a probability of a rate hike by the RBA. Generally speaking, a high reading should be taken as positive, or bullish, for the AUD, while a low reading is seen as negative or bearish.]

House Price Index (QoQ) (YoY) (Q1) [ Merits extra attention]
[The House Price Index released by the Australian Bureau of Statistics shows changes in housing prices of major cities in Australia. The housing prices are considered as a key indicator for inflationary pressures. A high reading is seen as positive or (Bullish) for the AUD, while a low reading is seen as negative (or Bearish).]

AiG Performance of Mfg Index (Apr) [ Merits extra attention]
[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).]

RBA Commodity Index SDR (YoY) (Apr)
[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 Down $9.20 & is sitting at US$1,556.50/oz atm [Source: Kitco]
Oil is currently trading Down $0.52 & is sitting at US$113.41/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0961c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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