daytrades october 12 morning ...

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks ended with slight gains Monday as investors shifted their focus towards corporate financial results. The U.S. government and Treasury market were closed for Columbus Day, but all other financial markets were open. Trading volumes were light because of the holiday, and stocks traded in a narrow range for most of the session. Stocks were supported earlier by ongoing speculation that the Federal Reserve will take additional steps to boost the economy.

But the market reversed course late Monday afternoon, as investors look ahead to quarterly financial statements due later this week from several major U.S. companies, including Intel, (INTC, Fortune 500) which reports after the closing bell Tuesday. JPMorgan (JPM, Fortune 500) and General Electric (GE, Fortune 500) are also scheduled to release third-quarter results this week, as well as Google (GOOG, Fortune 500) and Mattel (MAT, Fortune 500).

"There's a lot ahead of us this week and not much news today to set the tone," said Nick Kalivas, vice president of financial research at MF Global. "I think people are waiting for direction."

A disappointing jobs report on Friday raised bets the Fed will announce plans to resume large-scale purchases of U.S. Treasurys when the central bank meets early next month, sending the Dow above 11,000 for the first time since May." [Source:cnnmoney.com]

The DJIA Index finished the trading session Up 3.86; and
The SPI Futures are currently: Up 3 pts atm.

Of note in the US this evening:

FOMC Minutes (Oct 12) [Moderate volatility expected]
[FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.]

...AND...

Of note in Australia today:

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).]

National Australia Bank's Business Confidence (Sep)
[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.]

Westpac Consumer Confidence (Oct)
[The Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute captures the level of sentiment that individuals have in economic activity reflecting respondents' evaluations of their family finances over the past and coming year, expectations about the one-year and five-year economic conditions and views about current buying conditions for major household items. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, whereas a low reading is seen as negative (or bearish).]

Gold is currently trading Up $0.30 & is sitting at US$1,354.20/oz atm [Source: Kitco]
Oil is currently trading Down $0.11 & is sitting at US$82.10/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9841 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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