daytrades may 26 morning ...

Good Morning Traders,

US Market Report:

U.S. stocks strengthened Wednesday, moving higher after three straight days of declines, following a rise in commodity prices. The push higher came as gains in commodities "helped the market overcome negative economic news," said Scott Marcouiller, chief technical market strategist at Wells Fargo Advisors.

Oil prices surged 1.7% to top $101 per barrel, while silver prices jumped more than 4% to near $38 per ounce. Gold prices edged up 0.2% to $1,526.70 per ounce.

Marcouiller said concerns about the European debt crisis also eased some after Fitch Ratings said that German banks' risk from Greek debt is manageable.

Despite the day's modest advance in stock prices, stocks remain lower for the month, and headwinds remain. The Dow and S&P 500 have both declined more than 3%, and the Nasdaq has tumbled nearly 4% since the start of the month

"The market is in a bit of a tug-of-war," said Mark Luschini, chief investment strategist at Janney Montgomery Scott.

On one hand, investors are on edge as they face a series of issues that refuse to go away: a slowing U.S. recovery, European debt problems, and the end of the Federal Reserve's bond-buying program. "The weak economic data is accumulating, and investors are spooked that the economy may be losing momentum, which could crimp future corporate profits," Luschini said. "And nobody knows what the loss of the Fed's stimulus in June will mean."

On the other hand, corporate earnings have been coming in above expectations for the most part. And in a low-interest rate environment, equities remain the most attractive asset class, Luschini said. [Source: cnnmoney.com]

Market Reflections - Wednesday, 25th May, 2011

Early effects of the Japanese supply crunch are seen in April durable goods data that show wide and deep declines across new orders and shipments. Yet rising backlog is an important strength that will help manufacturers keep up production during the disruption. The data were no surprise and didn't hold back the Dow which ended three straight losing sessions with a small gain to 12,394. Oil firmed to $101 while gold held steady at $1,525. [Source: bloomberg.com]

Market Focus in the US this evening

A return to under 400,000 for weekly jobless claims would boost optimism for the monthly jobs report. [Source: bloomberg.com]
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The DJIA Index finished the last trading session: Down 38.45 points; and
The SPI Futures are currently: Up 40 points atm.
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Of note in the US this evening:

GDP [ Market moving indicator]

Jobless Claims [ Market moving indicator]

...AND...

Of note in Australia today:

Private Capital Expenditure (Q1) [ Merits extra attention]
[The Private Capital Expenditure released by the Australian Bureau of Statistics measures current and future capital expenditure intentions of the private sector. It is considered as an 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).]

...AND...

Of note elsewhere today/this evening:

Switzerland - Trade Balance (Apr) [ Merits extra attention]

Switzerland - Employment Level (QoQ) (Q1) [ Merits extra attention]

European Monetary Union - ECB Trichet's Speech [ Merits extra attention]

United Kingdom - Gfk Consumer Confidence (May) [ Merits extra attention]

Japan - Tokyo CPI ex Food & ex Fresh Food, Energy (YoY) (May) [ Merits extra attention]

Japan - Tokyo Consumer Price Index (YoY) (May) [ Merits extra attention]

Japan - National Consumer Price Index (YoY) (Apr) [ Merits extra attention]

Japan - Retail Trade (MoM) (YoY) (Apr) [ Merits extra attention]

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

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Gold is currently trading Down $0.50c atm and is sitting at US$1,525.30/oz [Source: Kitco]
Oil (Nymex Crude) is currently trading Up $0.03 & is sitting at US$101.35/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0514c against the US Dollar [Source: Forex. Live]
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Have a great day trading today all.

Cheers, Tweets

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