daytrades nov 2 afternoon, page-2

Thanks highlandlad!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"The session will mark time ahead of today's election results and Wednesday's FOMC statement." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (01.11.2010)

"Surprisingly strong ISM purchasers' data, boosted by strength in autos and by exports, combined with surprisingly strong Chinese purchasers' data to lift what had been a sagging outlook for the global manufacturing sector. The day's other reports were mixed showing softness for consumer income and spending yet welcome strength for construction.

The Dow rallied early in the session yet gains faded by the close reflecting caution ahead of tomorrow's election and Wednesday's FOMC. The Dow ended little changed at just over 11,120.

The ISM data did give a boost to the dollar index, up 1/2 percent to 77.30, and to oil which firmed more than $1 to $82.75. Gold ended at $1,350." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Motor Vehicle Sales [ Merits extra attention]
[Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending.]

FOMC Meeting Begins
[The Federal Open Market Committee meets eight times a year in order to determine the near-term direction of monetary policy. For monetary policy, the FOMC evaluates the relative concerns over the outlook for economic growth (too strong, too weak, about right) and pending inflation (too high, too low, about right). The FOMC then determines whether short-term interest rates should be raised, lowered, or left unchanged to accomplish its objectives of healthy economic growth and low inflation. The FOMC consists of the seven Governors of the Federal Reserve Board (assuming no seats are vacant) and five Federal Reserve Bank presidents. The New York Fed president is always on the FOMC and the other four seats for the District presidents are rotated yearly. Changes in monetary policy are now announced immediately after FOMC meetings.]

ICSC-Goldman Store Sales
[This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.]

ABC/Washington Post Consumer Confidence (Oct 30)
[The ABC/Washington Post Consumer Confidence released by ABC News and the Washington Post captures the level of confidence that individuals have in economic activity reflecting respondents' evaluations of their personal financial situation. Generally, a high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

Redbook
[A weekly measure of sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC index. It is also calculated differently than other indicators.]

4-Week Bill Auction
[Treasury bills are sold at public auctions every week.]

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... AND ...
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Of note in Australia tomorrow:-

Please note there is no noteworthy 'Economic news' due to be released in Australia tomorrow.

[Sources used: nasdaq.com; bloomberg.com & fxstreet.com]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 2 pts atm (Live)!