daytrades october 8 afternoon, page-2

Thanks highlandlad!

1pm - 'Economic news' courtesy reminder time Traders!

'Market Focus' in the US this evening

"No one knows what to expect today. Jobless claims are favorable but are offset by ADP's negative estimate. Yet with the Fed ready to pump the presses, no news is bad news." [Source: nasdaq.com., Mark Pender]

'Market Reflections' from the last trading session (07.10.2010)

"Jobless claims came down which is good news, chain-store sales were flat which isn't good news, but tipping the balance are Alcoa earnings which are better than expected. Alcoa earnings came in after the close yet will affect international markets though only to a limited degree given the pending release on Friday morning of U.S. employment data.

Markets marked time on Thursday. The Dow rose slightly to 10,967 while the Nasdaq continues to decline, down nearly one percent to 2,380. Overshadowed by Alcoa is an after-hours statement from chip-equipment maker Kulicke & Soffa which is warning that industry conditions are softening.

Steepening in the yield curve continues and tangibly in Thursday's session, perhaps the reflection of long-term inflation worries. The 2-year yield fell three basis points to 0.35 percent while the 30-year yield rose four basis points to 3.72 percent. Gold ended $7 higher in record ground at $1,355 while oil rose another half percent to $83.75." [Source: nasdaq.com., Mark Pender]
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Of note in the US this evening:-

Firstly, please note that it is a Federal holiday in the US on the Monday for 'Columbus Day', however according to the NYSE it will still be business as usual on the NYSE. Someone please feel free to correct me here if I am wrong. TIA!

Employment Situation [ Market moving indicator]
[The employment situation is a set of labor market indicators based on two separate surveys in this one report. Based on the Household Survey, the unemployment rate measures the number of unemployed as a percentage of the labor force. Other key series come from the Establishment Survey (of business establishments). Nonfarm payroll employment counts the number of paid employees working part-time or full-time in the nation's business and government establishments. The average workweek reflects the number of hours worked in the nonfarm sector. Average hourly earnings reveal the basic hourly rate for major industries as indicated in nonfarm payrolls.]

Dan Tarullo speaks
[Federal Reserve Gov. - Speech on international financial regulation to the Bretton Woods Committee in Washington.]

Wholesale Trade
[Wholesale trade measures the dollar value of sales made and inventories held by merchant wholesalers. It is a component of business sales and inventories.]
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... AND ...
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Of note in Australia on Monday of next week:-

Please note there is no noteworthy 'Economic news' due to be reported in Australia on Monday.

[Sources used: nasdaq.com & fxstreet.com]
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ASX Market Watch (widget snapshot)



Gold Spot Price atm (Kitco)

... and the DOW futures are currently Down 3 pts atm (Live)!