Good Morning Traders (thanks Aksier); ... and ...'Happy Birthday...

Good Morning Traders (thanks Aksier); ... and ...
'Happy Birthday to me' (LOL),

DOW Snapshot from previous trading session

"Stocks closed out their worst week in three months on Friday, but it's a new week on Wall Street and investors are bracing for a slew of economic and corporate news to help set the tone.

With Black Friday less than two weeks away, all eyes will be on the retail sector. The government's monthly retail sales report kicks things off before the opening bell Monday morning, but investors will be more focused on financial results and guidance from major retailers for the period that includes the all-important holiday season. Discount giants including Wal-Mart and Target are due to report earnings, as well as higher-end department stores like Nordstrom and Saks Incorporated.

"Hearing from the retailers will give us insight as to what's happening in the minds of American consumers, and how much they're willing to spend this holiday season," said Kim Caughey, senior equity analyst at Fort Pitt Capital Group. "We saw a surprise pickup in hiring in the last jobs report, so that should make for happy consumers and happy holidays."

Caughey said investors will also be paying close attention to how retailers are coping with higher cotton prices, which have surged in recent weeks as the dollar weakened.

In other corporate news, General Motors could price an initial public offering of 365 million shares late this week, though the exact date has not been disclosed. The company expects to raise about $13 billion selling shares, putting it on course for the third-largest initial public offering in U.S. history.

Monetary and fiscal policy may also take the stage this week, as President Obama returns from the G-20 meeting of global leaders and Congress reconvenes for the start of its lame-duck session. Lawmakers are expected to begin discussing the proposal to cut the deficit by $4 trillion over the next decade as well as the Bush tax cuts, which are set to expire at the end of the year.

Investors will be on the lookout for news relating to Europe's sovereign debt crisis. The same fears that weighed on markets last spring resurfaced last week, this time sparked by Ireland's fiscal instability.

"We'll be watching Europe very closely," said Karl Mills, president and chief investment officer at Jurika Mills & Keifer. "The markets were giving a great amount of importance to the midterm elections and the Fed's new plan, but now the market could face a new bout of sovereign debt concerns." " [Source: cnnmoney.com]

The DJIA Index finished the trading session Down 90.52; and
The SPI Futures are currently: Down 19 pts atm.

Of note in the US this evening:

Retail Sales (MoM) (Oct) [High volatility expected]

Retail Sales ex Autos (MoM) (Oct) [Moderate volatility expected]

NY Empire State Manufacturing Index (Nov) [Moderate volatility expected]

...AND...

Of note in Australia today:

New Motor Vehicle Sales (MoM) (YoY) (Oct)
[The New Motor Vehicle Sales released by the Australian Bureau of Statistics measures motor vehicle sales in Australia. It is considered as an indicator for consumer confidence. It is worth noting that motor vehicle sales are a small component of the overall Australian economy. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

Gold is currently trading Down $40.10 & is sitting at US$1,368.80/oz atm [Source: Kitco]
Oil is currently trading Down $2.93 & is sitting at US$84.88/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9868 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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