daytrades oct 19 afternoon, page-2

Thanks highlandlad!

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

'Market Focus' in the US this evening

"Watch for Asian reaction to IBM and Apple both of which posted strong results late Monday, especially Apple." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (18.10.2010)

"Citicorp doesn't see any documentation problems with foreclosures or mortgage bonds, news that tripped a five percent jump in its shares and helped the outlook for the housing sector. The monthly homebuilders report shows the best activity since the Spring expiration of second-round stimulus. In a surprising disappointment, manufacturing contracted slightly in September. In a big plus, IBM and especially Apple posted strong earnings after the close.

The Citigroup news gave a boost to the market where the Dow rose seven tenths to 11,143. The dollar was little changed and rates edged lower with the 30-year at 3.95 percent. Gold is at $1,373 with oil at $83." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Housing Starts [ Market moving indicator]
[A housing start is registered at the start of construction of a new building intended primarily as a residential building. The start of construction is defined as the beginning of excavation of the foundation for the building.]

Bank of Canada Announcement [ Market moving indicator]
[The central bank of Canada periodically announces its monetary policy with regard to interest rates. The announcement conveys to the financial markets and investors if and what change in policy might be.]

Fed's Bernanke Speech [ Merits extra attention]
[The Fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the Federal Reserve System. He gives a press conference as to how the Fed observes the current US economy and the value of USD. His comments may determine a short-term positive or negative trend.]

ICSC-Goldman Store Sales
[This weekly measure of comparable store sales at major retail chains, published by the International Council of Shopping Centers, is related to the general merchandise portion of retail sales. It accounts for roughly 10 percent of total retail sales.]

Building Permits (MoM) (Sep)
[The Building Permits released by the US Census Bureau, at the Department of Commerce shows the number of permits for new construction projects. It implies the movement of corporate investments (US economic development). It tends to cause some volatility to the USD. Normally, the more growing number of permits, the more positive (or bullish) for the USD.]

ABC/Washington Post Consumer Confidence
[The ABC/Washington Post Consumer Confidence released by ABC News and the Washington Post captures the level of confidence that individuals have in economic activity reflecting respondents' evaluations of their personal financial situation. Generally, a high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).]

Redbook
[A weekly measure of sales at chain stores, discounters, and department stores. It is a less consistent indicator of retail sales than the weekly ICSC index. It is also calculated differently than other indicators.]

4-Week Bill Auction; and 52-Week Bill Auction
[Treasury bills are sold at public auctions every week.]

Narayana Kocherlakota speaks
[Minnesota Federal Reserve Bank President - Luncheon speech to business leaders in Fargo, North Dakota.]

Charles Evans speaks
[Chicago Federal Reserve Bank President - Speech on the economic outlook to civic leaders in Evanston, IL.]

Richard Fisher speaks
[Dallas Federal Reserve Bank President - Speech to the New York Association for Business Economics in New York.]

Capacity Utilization (Sep)
[The Capacity Utilization released by the Federal Reserve Board is the percentage of the US production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the U.S. economy. A high capacity utilization stimulates inflationary pressures. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).]

4-Week Bill Announcement; 3-Month Bill Auction; and 6-Month Bill Auction
[Treasury bills are sold at public auctions every week.]
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... AND ...
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Of note in Australia tomorrow:-

Westpac Leading Index (MoM) (Aug)
[The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Generally speaking, the more positive the reading, the better for the currency, while a low reading is seen as negative (or bearish).]

[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 Down 25 pts atm (Live)!