daytrades october 20 morning ...

Good Morning Traders,

DOW Snapshot from previous trading session

"Stocks fell sharply Tuesday, amid reports that a group of bondholders are trying to force Bank of America to repurchase bad mortgages. Investors also weighed a surprise rate hike by the Chinese government, and mixed data on the housing market and corporate results. All three indexes logged their biggest daily drops since Aug. 11.

Stocks were under pressure throughout the session, but the the sell-off picked up steam in the afternoon following a Bloomberg news report that said PIMCO, BlackRock and the Federal Reserve Bank of New York are seeking to force Bank of America to buy back about $47 billion in bad mortgages that were packaged by its Countrywide Financial unit. Shares of Bank of America tumbled 4.4% on the news.

Earlier in the day, stocks drifted in the red after the People's Bank of China raised its benchmark deposit and lending rates for the first time in 3 years." [Source:cnnmoney.com]

The DJIA Index finished the trading session Down 165.07; and
The SPI Futures are currently: Down 36 pts atm.

Of note in the US this evening:

EIA Petroleum Status Report [Merits extra attention]

Fed's Beige Book [Moderate volatility expected]

...AND...

Of note in Australia today:

Please note there is no noteworthy 'Economic news' due to be released in Australia today.

Gold is currently trading Down $1.10 & is sitting at US$1,334.20/oz atm [Source: Kitco]
Oil is currently trading Down $0.09 & is sitting at US$79.40/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9716 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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