Happy Mufti Day Traders, US - Market Reflections - Thursday,...

  1. 25,108 Posts.
    Happy Mufti Day Traders,

    US - Market Reflections - Thursday, 26th May, 2011

    Economic momentum has eased based on a run of recent data including a rising trend for jobless claims and today's soft demand revisions for first-quarter GDP. But the news couldn't shake the Dow which ended fractionally higher at 12,402. High oil, holding at what may be the new normal of $100, remains a drag on the consumer who more and more retailers are warning is spending less.

    This week is memorable in the Treasury market given a run of extremely strong auctions including record coverage for today's 7-year note. Demand may be getting a boost from the sovereign troubles that continue to dog Europe. Buyers are accepting lower yields for Treasuries where the 2-year fell five basis points to 48 basis points. The 30-year yield fell six basis points to 4.22 percent. Low yields are easing demand for the dollar which fell 1/2 percentage point on the dollar index. Gold ended steady at $1,520.

    US - Market Focus in the US this evening

    The health of the consumer may be in trouble again. Watch for wage data in today's personal income report.

    [Source used: bloomberg.com / nasdaq.com]
    ____________________________________________

    The DJIA Index finished the last trading session: Down 8.10 points; and
    The SPI Futures are currently: Up 5 points atm.
    ____________________________________________

    Of note in the US this evening:

  2. Personal Income and Outlays [ Market moving indicator]

  3. Pending Home Sales Index [ Market moving indicator]

  4. Consumer Sentiment [ Merits extra attention]

    ...AND...

    Of note in Australia today:

  5. Please note there is no key 'Economic news' due to be reported in Australia today.

    ...AND...

    Of note elsewhere today/this evening:

  6. All - G8 Meeting [ Merits extra attention]

  7. Germany - Consumer Price Index (MoM) (YoY) (May) [ Merits extra attention]

  8. European Monetary Union - Economic Confidence (May) [ Merits extra attention]

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

    _____________________________________________

    Gold is currently trading Up $4.40c atm and is sitting at US$1,523.80/oz;
    Oil (Nymex Crude) is currently trading neutral atm and is sitting at US$100.23/bbl atm
    The Dollar: The AUD is currently trading @ $1.0634c against the US Dollar

    [Sources used: kitco.com; bloomberg.com; nasdaq.com & fxstreet.com]
    ____________________________________________

    Have a great day trading today all.

    Cheers, Tweets

    Please click here to go to the 'Pre-Market thread'
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