Good Morning Traders, DOW Snapshot from previous trading...

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks ended October with gains, but uncertainty sent investors to the sidelines Friday following a lackluster reading on economic growth and ahead of next week's Federal Reserve meeting. A report on third-quarter GDP early Friday showed the economy grew at a sluggish pace in the third quarter, signaling that quantitative easing from the Fed is still on its way. But speculation about how far the Fed will go to boost the economy, along with the highly-anticipated Nov. 2 elections, has kept stocks in a tight range this week. "We are waiting in the wings here for two major events that could really shake the economy going forward," said David Sandell, a portfolio manager at Leeb Capital.

October was another strong month for markets, but uncertainty kept stocks in a tight range over the past week. Now, some of that uncertainty is about to fade. The first week of November brings three events that have the potential to shake up markets: the Federal Reserve's meeting, the midterm elections and the release of the government's October jobs report.

"We have a triple play coming up," said Doug Roberts, a chief investment strategist at Channel Capital Research. "These three events are going to overshadow everything else." While the S&P 500 and Dow logged their best October in several years, major indexes simmered in the last week of the month as investors stayed on the sidelines amid a raft of economic reports.

"We've seen all that we need to see of the economic data, there are no surprises now -- it's still the weakest recovery we've seen in generations," said David Sandell, portfolio manager at Leeb Capital. "It's clear that we need more help, and whether it comes out of the Fed or out of Washington remains to be seen, but likely we'll see it from both." " [Source: cnnmoney.com]

The DJIA Index finished the trading session Up 4.54; and
The SPI Futures are currently: Up 17 pts atm.

Of note in the US this evening:

Ben Bernanke speaks [Market moving indicator]

Existing Home Sales [Market moving indicator]

ISM Manufacturing (Oct) [High volatility expected]

Personal Income (MoM) (Sep) [Moderate volatility expected]

Core Personal Consumption Expenditure - Prices Index (MoM) (Sep) (YoY) [Moderate volatility expected]

...AND...

Of note in Australia today:

House Price Index (QoQ) (Q3) (YoY) [Moderate volatility expected]
[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 ).]

RBA Commodity Index SDR (YoY) (Oct)
[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.]

Gold is currently trading Up $4.70 & is sitting at US$1,364.50/oz atm [Source: Kitco]
Oil is currently trading Up $0.34 & is sitting at US$81.77/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9853 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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