daytrades october 05 morning ...

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks finished near session lows Monday following a midday sell-off, with the Dow and Nasdaq indexes posting their largest one-day losses in nearly a month, as investors remain cautious ahead of corporate earnings season and key employment data due later in the week. Stocks started the day near the breakeven point, but selling accelerated as the session wore on. With little on the economic docket to attract investors, the September rally has lost its momentum.

"We're just seeing a pullback from that," said Peter Cardillo, chief market economist at Avalon Partners. "We're going to get the monthly jobs report later this week, so volume will be light and the market could be volatile ahead of that release."

A report showing a continued slowdown in manufacturing, coupled with data showing some pickup in the housing market, did little to stem the jitters on Monday.

"We'll continue to see a lot of mixed signals," said Karl Mills, president and chief investment officer at Jurika Mills and Keifer. "I think it will be hard for the market to repeat as strong of a month as what we just saw, but it'll depend on the companies' earnings and their outlooks."

Alcoa kicks off the unofficial start of earnings season after the closing bell on Thursday. Investors will also be gearing up for the government's monthly jobs report, due out Friday.

Stocks had started October on a positive note -- although Friday's advance was limited. But with economic uncertainty continuing to underpin the markets, investors could be in for a rough month."
The DJIA Index finished the trading session Down 78.41 ; and
The SPI Futures are currently: Down 24 pts atm.

Of note in the US this evening:

ISM Non-Manufacturing (Sep) [Moderate volatility expected]

...AND...

Of note in Australia today:

RBA Interest Rate Decision [High volatility expected]
[RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.]

National Australia Bank's Business Confidence (Sep) [Moderate volatility expected]
[The National Australia Bank Business Confidence is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish.]

Retail Sales Trend (MoM) [Moderate volatility expected]
[The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.]

National Australia Bank's Business Conditions (Sep)
[The NABs Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

ANZ Job Advertisements (Sep)
[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 Down $2.70 & is sitting at US$1312.30/oz atm [Source: Kitco]
Oil is currently trading Down $0.09 & is sitting at US$81.38/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9668 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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