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

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks turned mixed Wednesday near the end of a choppy session, as investors weighed a tame inflation report against signs of weakness in the housing market. Home Depot and Hewlett Packard were the biggest losers on the Dow. But Caterpillar, McDonald's and Travelers all bucked the trend. The mixed performance came after government reports showed consumer prices held near historic lows in October, while new home construction was weaker than expected in the month. Some traders said the inflation data mean the Federal Reserve has additional leeway to support the economy and asset prices. But others worry that inflation is too low, and that the central bank's actions could drive prices higher as money flows into commodities markets.

"The CPI is to close to zero for comfort, it's not what we'd like to see at this point," said Paul Zemksy, head of asset allocation at ING Investment Management.

In addition, worries about the European sovereign debt crisis have resurfaced this week, taking many market participants by surprise. European Union leaders and officials from the International Monetary Fund gathered in Dublin on Wednesday to discuss ways to support the troubled Irish economy.

"Over the last few months the markets had hoped that sovereign debt issue had gone away," said Bruce McCain, chief investment strategist with Key Private Bank. "Ireland is making it more than apparent that it hasn't."

After a strong rally in September and October, investors said a pause in the market was not surprising, given the lack of a positive catalysts and renewed jitters.

"We've run up quite a bit off the June low, people are feeling a bit exposed with all these problems that have sprung up," said McCain." [Source: cnnmoney.com]

The DJIA Index finished the trading session Down 15.62; and
The SPI Futures are currently: Down 1 point atm.

Of note in the US this evening:

Philadelphia Fed Survey [Market moving indicator]

Jobless Claims [Merits extra attention]

EIA Natural Gas Report [Merits extra attention]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to be reported in Australia today.

Gold is currently trading Down $3.60 & is sitting at US$1,335.80/oz atm [Source: Kitco]
Oil is currently trading Down $1.90 & is sitting at US$80.44/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 0.9808 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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