daytrades october 22 morning ...

Happy Mufti Day Traders,

DOW Snapshot from previous trading session

"U.S. stocks ended a shade higher Thursday after seesawing throughout the session, as investors balanced strong earnings with building speculation that the Fed's next round of asset-buying won't be as dramatic as anticipated.

Stocks have been on a roller coaster this week -- starting with gains on Monday, diving to 2-month lows on Tuesday, and ending sharply higher Wednesday. Investors have been taking in mixed earnings results, and waiting for clues about the next round of asset purchases from the Federal Reserve.

There has been growing speculation over the past month that the Fed will launch more quantitative easing. The move -- known as QE2 -- would mark the second round of large-scale asset purchases of U.S. Treasuries by the Fed, as part of its effort to get the economy moving.

But comments from U.S. Treasury Secretary Timothy Geithner on Thursday suggested that the Fed's action won't be as large as expected, sending the dollar higher and taking steam out of the stock market's early rally.

"Geithner hinting that the dollar isn't as weak as we thought is making people start to think quantitative easing is going to be smaller than expected," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams. "Markets have been banking on a huge printing of money, so if it's smaller, that's good for the dollar but bad for stocks." " [Source:cnnmoney.com]

The DJIA Index finished the trading session Up 38.60; and
The SPI Futures are currently: Up 4 pts atm.

Of note in the US this evening:

Please note there is no noteworthy 'Economic news' due to be reported in the US this evening;

...AND...

Of note in Australia today:

Import Price Index (QoQ)
[Import Price Index informs the changes in the price of imported products. It''s released by the Australian Bureau of Statistics. The higher the cost of imported goods, the stronger the effect they will have on inflation, redunding in a higher probability of a rate rise. Therefore, a high reading should be taken as positive, or bullish, for the AUD.]

Export Price Index (QoQ)
[Export Price Index informs of the changes in the price of exports. It's released by the Australian Bureau of Statistics. Agricultural products and minerals cover over the 60% of manufacturing exports. Thus, the changes in commodity prices affect the Australian economy. Low volatility for the AUD is expected. A rise in prices is a threat over the mid-term as higher prices mean lower demands to be expected.]

Gold is currently trading Down $2.50 & is sitting at US$1,323.20/oz atm [Source: Kitco]
Oil is currently trading Up $0.10 & is sitting at US$80.66/oz atm [Source: Bloomberg]
The Dollar: The AUD/US is currently trading @ 0.9787 cents [Source: Forex. Live]

Have a great day trading today all.

Cheers, Tweets

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