daytrades november 8 morning ...

Good morning traders,

DOW Snapshot from previous trading session

"U.S. stocks wavered Friday but ended with slight gains, as investors digested a strong jobs report at the end of a week full of big economic news. All three major indexes closed at fresh two-year highs and the Dow and S&P logged their biggest weekly gains in more than two months.

Stocks staged a major rally Thursday, a day after the Federal Reserve announced plans to pump $600 billion into the economy. All three main indexes finished at their highest levels since at least September 2008 -- the same month Lehman Brothers collapsed. The labor market has been a focal point for investors hoping for recovery, but Friday's reaction was muted as investors reaped profits after the previous day's advance.

"I'm surprised the response isn't better, but a lot of money was put to work Thursday and stocks were up sharply, so it's not unusual for investors take a pause," said Tom Schrader, managing director at Stifel Nicolaus.

Despite a quiet end to the week, stocks posted their biggest weekly gains in about two months, as investors welcomed clarity following the midterm elections and the Fed's announcement.

As expected, the midterm elections on Tuesday resulted in big gains for the Republican party, which won control of the House by capturing at least 60 seats. The shifting balance of power on Capitol Hill is largely seen as a positive for Wall Street, since Republican lawmakers are viewed as more business friendly and fiscally conservative than their Democrat rivals. But the most-anticipated news of the week came Wednesday afternoon, when the Federal Reserve said it will buy $600 billion in U.S. Treasuries by the middle of next year to stimulate the economy.
Stocks had been climbing since the end of August, when the Fed first hinted at its plan for a second round of so-called quantitative easing, but fell into a tight range in the weeks leading up the Fed's meeting." [Source: cnnmoney.com]

The DJIA Index finished the trading session Up 9.24; and
The SPI Futures are currently: Up 18 pts atm.

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due out in the US this evening that is either a 'market moving indicator' or 'merits extra attention';

...AND...

Of note in Australia today:

ANZ Job Advertisements (Oct)
[The ANZ job advertisements released by the Australia and New Zealand Banking Group Limited (ANZ) presents the number of job advertisements in the major metropolitan newspapers and on the internet sites. It is used for forecasting employment growth in Australia as it indicates future labor market conditions.A high reading is seen as bullish (or postive) for the AUD, whereas a low reading is seen as bearish (or negative).]

Gold is currently trading Up $1.20 & is sitting at US$1,394.10/oz atm [Source: Kitco]
Oil is currently trading Up $0.36 & is sitting at US$86.85/bbl atm [Source: Bloomberg]
The Dollar: The AUD is currently trading @ 1.0146 cents against the US Dollar[Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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