daytrades oct 1 afternoon, page-2

Thanks highlandlad!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"A third month of moderation for ISM new orders would point to slowing growth for manufacturing." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (30.09.2010)

"A major bank bailout in Ireland and follow-on rating cuts for Spain are turning focus back on systemic risk in the financial sector. A major positive in the session was a convincing decline in jobless claims, extending a trend that points to better employment reports ahead.

The Dow fell slightly to 10,788 to end a spectacular month with a 7.7 percent gain, a gain that many may be ignoring based on consumer confidence data. The dollar ended little changed after an up-and-down session. Rates are little changed with the 2-year yield at 42 basis points and the 30-year at 3.69 percent. Oil is flirting with $80 for the fourth time this year, ending just below. Gold ended just below $1,310." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Personal Income and Outlays [ Market moving indicator]
[Personal income is the dollar value of income received from all sources by individuals. Personal outlays include consumer purchases of durable and nondurable goods, and services.]

ISM Mfg Index [ Market moving indicator]
[The Institute for Supply Management surveys more than 300 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. A composite diffusion index of national manufacturing conditions is constructed, where readings above (below) 50 percent indicate an expanding (contracting) factory sector. Export orders, import orders, backlog orders and prices paid for raw and unfinished materials are also measured, but these are not included in the overall index.]

Ben Bernanke speaks [ Market moving indicator]
[Federal Reserve Chairman - Treasury Secretary Tim Geithner, FDIC Chair Sheila Bair, SEC Chair Mary Schapiro and CFTC Chair Gary Gensler participate with others for the first meeting of the Financial Stability Oversight Council, in Washington.]

Consumer Sentiment [ Merits extra attention]
[The University of Michigan's Consumer Survey Center questions 500 households each month on their financial conditions and attitudes about the economy. Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes. Among economic reports, consumer sentiment refers to the Michigan survey while consumer confidence refers to The Conference Board's survey.]

Motor Vehicle Sales [ Merits extra attention]
[Unit sales of domestically produced cars and light duty trucks (including sport utility vehicles and mini-vans). Individual manufacturers report usually report sales on the first business day of the month. Motor vehicle sales are good indicators of trends in consumer spending.]

Construction Spending [ Merits extra attention]
[The dollar value of new construction activity on residential, non-residential, and public projects. Data are available in nominal and real (inflation-adjusted) dollars.]

Charles Evans speaks
[Chicago Federal Reserve President - On panel discussing the future of monetary policy at the Banque de France conference in Rome, Italy. ]

Richard Fisher speaks
[Dallas Federal Reserve Bank President - On globalization and monetary policy to the Vancouver Board of Trade, British Colombia. ]

William Dudley speaks
[New York Federal Reserve Bank President - Speech to the Society of American Business Editors and Writers in New York.]

ISM Prices Paid (Sep)
[The Institute for Supply Management ( ISM ) Manufacturing Index shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries. It is a significant indicator of the overall economic condition in US. The ISM prices Paid represents business sentiment regarding future inflation. A high reading is seen as positive for the USD, while a low reading is seen as negative.]

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... AND ...
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Of note in Australia on Monday of next week:-

Firstly, Traders please note that it is a long weekend this weekend for the Labour Day public holiday in NSW / SA / ACT - however the markets will be OPEN on Monday 4th October, 2010 - Please refer to the: ASX Trading calendar - 2010.

AiG Performance of Services Index (Sep)
[AiG Performance of Services Index released by the Australian Industry Group presents business conditions in the Australian service sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).]

TD Securities Inflation (MoM) (YoY) (Sep)
[TD Securities Inflation released by The University of Melbourne - Faculty of Economics and Commerce estimates inflation in the Australian economy. The higher inflation, the stronger the effect it will have on a probability of a rate hike by the RBA. Generally speaking, a high reading should be taken as positive, or bullish, for the AUD, while a low reading is seen as negative or bearish.]

Also note that the RBA Interest Rate decision is due out on Tuesday of next week.

[Sources used: nasdaq.com & fxstreet.com]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Up 32 pts atm (Live)!