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

Good Morning Traders,

DOW Snapshot from previous trading session

"U.S. stocks tumbled Tuesday, with all three major indexes down nearly 2% in the early afternoon, as investors cast a worried eye at economic developments in Europe and China. Traders on Wall Street have been holding back on buying recently as they await more clarity on the economic outlook for the United States, Europe and China. As a result, investors have been taking their cues from daily economic indicators, and have been keeping a close eye on debt auctions in fiscally challenged countries such as Ireland.

"The concerns about the global economy, with the fiscal situation in Ireland, are clearly back on the table," said Peter Tuz, president at Chase Investment Counsel. "There's a little bit of nervousness out there."

The persisting global economic woes have helped lift the dollar, and the stronger buck is weighing on commodity prices and the energy sector, Tuz said.

Irish prime minister Brian Cowen outlined in a speech on Tuesday the steps that his government has been taking to stabilize the Irish economy and reduce the deficit. Most importantly, as far as investors are concerned, he said that his country will not be seeking a bailout. "Ireland has made no application for external support," he said.

Investors had braced themselves for news of an Irish bailout and its potential threat to economic stability." [Source: cnnmoney.com]

The DJIA Index finished the trading session Down 178.47; and
The SPI Futures are currently: Down 61 pts atm.

Of note in the US this evening:

Consumer Price Index [Market moving indicator]

Housing Starts [Market moving indicator]

EIA Petroleum Status Report [Merits extra attention]

...AND...

Of note in Australia today:

Wage Price Index (QoQ) (YoY) (Q3)
[The Wage Price Index released by the Australian Bureau of Statistics is an indicator of labor cost inflation and of the tightness of labor markets. The Reserve Bank of Australia pays close attention to it when setting interest rates. A high reading is positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

Gold is currently trading Down $21.10 & is sitting at US$1,339.40/oz atm [Source: Kitco]
Oil is currently trading Down $2.52 & is sitting at US$82.34/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9775 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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