daytrades may 9 morning ...

Good Morning Traders,

US Market Report:

A stronger-than-expected jobs report on Friday was a good coda to a week in which stocks were dragged lower by a rout in commodities.

In the week ahead, the commodities market will be in focus again. Fund managers said they welcome a fall in oil prices because of how heavily energy weighs on consumers' pocketbooks.

"Friday's jobs report and sell-off in commodities should be enough to keep this market moving higher," said Karl Mills, president and chief investment officer of Jurika, Mills and Keifer.

Closely-watched economic numbers coming out this week include April retail sales, producer and consumer inflation figures and the first reading on May consumer confidence.

Investors will also keep an eye on the weekly initial jobless benefits report, particularly since last week's claims number jumped by 43,000, considerably worse than what economists had predicted. The claims figure helped fuel a 140 point drop in the Dow on Thursday.

"We have to see if last week's number was an abnormality," said Curvin Miller, vice president of wealth advisory firm Russell & Company. [Source: cnnmoney.com]

Market Reflections - Friday, 6th May, 2011

Job growth strengthened in what proved to be a surprisingly strong April employment report. But there are soft spots and jobless claims have been going up, not down. The Dow went up, gaining nearly 1/2 percent to 12,638 in a session that also included a published report claiming Greece is leaving the euro. Though denied strongly, the report sent the euro down 1-1/4 percent to $1.4358. Oil fell another $1 to $98 while gold held steady at $1,480. [Source: bloomberg.com]

Market Focus in the US this evening

Thursday's data will be the week's focus, whether retail sales held solid and whether jobless claims will reverse their prior spike. [Source: bloomberg.com]
____________________________________________

The DJIA Index finished the last trading session: Up 54.57 points; and
The SPI Futures are currently: Up 8 points atm.
____________________________________________

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due to be reported in the US this evening.

...AND...

Of note in Australia today:

ANZ Job Advertisements (Apr)
[The ANZ job advertisements released by the Australia and New Zealand Banking Group Limited (ANZ) presents the number of job advertisements in the major metropolitan newspapers and on the internet sites. It is used for forecasting employment growth in Australia as it indicates future labor market conditions.A high reading is seen as bullish (or postive) for the AUD, whereas a low reading is seen as bearish (or negative).]

National Australia Bank's Business Confidence (Apr) (being released early due to the Budget being handed down tomorrow)
[The National Australia Bank Business Confidence is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish.]

National Australia Bank's Business Conditions (Apr) (being released early due to the Budget being handed down tomorrow)
[The NAB�s Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. 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:

Germany - Trade Balance s.a. (Mar) [ Merits extra attention]

Germany - Current Account (Mar) [ Merits extra attention]

European Monetary Union - Sentix Investor Confidence (May) [ Merits extra attention]

Canada - Housing Starts s.a (YoY) (Apr) [ Merits extra attention]

United Kingdom - RICS House Price Balance (Apr) [ Merits extra attention]


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

_____________________________________________

Gold is currently trading Down $1.30 & is sitting at US$1,494.10/oz atm [Source: Kitco]
Oil (Nymex Crude) is currently trading Up $0.88 & is sitting at US$98.06/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ $1.0738c 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'