daytrades october 07 morning ...

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks ended Wednesday's choppy session mixed, as cautious investors mulled two reports showing continued weakness in the job market. The news comes ahead of the closely-watched monthly jobs report due Friday. All three major indexes rallied 2% Tuesday to the highest levels since May. A report showing that service sector activity improved in September, and a surprise move by Japan's central bank to cut interest rates, sparked a broad-based rally.

But the enthusiasm evaporated Wednesday, as the dour jobs numbers weighed on investor sentiment ahead of the government's September jobs report on tap for Friday.

"The market remains focused on economic news, and most of the concerns are over the employment picture. So anything like today's payroll numbers reminds investors that the economy is still far from perfect, which leads to some weakness," said Matt King, chief investment officer at Bell Investment Advisors.

According to a consensus of economists polled by Briefing.com, the number of jobs is expected to remain flat in the upcoming monthly report. At the same time, the unemployment rate is expected to have ticked up to 9.7% from 9.6%.

But King said corporate earnings season, which unofficially kicks off after the closing bell on Thursday when Alcoa (AA, Fortune 500) reports its results, could lift the markets.

"We're expecting company results to show the same type of improvement we've seen for most of this year, and regain the market's attention," King said. "As those come in, stocks should move higher throughout the fourth quarter." " [Source:cnnmoney.com]

The DJIA Index finished the trading session Up 22.93; and
The SPI Futures are currently: Up 6 pts atm.

Of note in the US this evening:

BOE Announcement [Market moving indicator]

ECB Announcement [Market moving indicator]

Jobless Claims [Merits extra attention]

EIA Natural Gas Report [Merits extra attention]

Consumer Credit (Aug) [Moderate volatility expected]

...AND...

Of note in Australia today:

Unemployment Rate (Sep) [High volatility expected]
[The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).]

Employment Change (Sep) [High volatility expected]
[The Employment Change released by the Australian Bureau of Statistics is a measure of the change in the number of employed people in Australia. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).]

Gold is currently trading Down $1.30 & is sitting at US$1,347.80/oz atm [Source: Kitco]
Oil is currently trading Up $0.09 & is sitting at US$83.32/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9764 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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