Good Morning Traders (thanks for the handover in hll's absence this week pj),
DOW Snapshot from previous trading session
"Stocks ended Wednesday higher as investors shifted their focus from worries about European banks to President Obama's $350 billion jobs recovery plan. Stocks are coming off losses Tuesday, when all three major indexes fell more than 1% as investors worried that European banks are in worse shape than previously believed. But those fears subsided a bit Wednesday morning after the Portuguese debt auction was met with healthy demand. Experts caution that concern about Europe's banks may have eased but the problems are far from disappearing. As austerity measures take effect in several European countries and various data continue to point to slower economic growth globally, sovereign credit spreads have started widening again, nearing the levels they were at in the spring, said David Chalupnik, the head of equities at First American Funds. Wider credit spreads are a sign that funding government debt could become more challenging for debt-laden European countries, he explained." [Source: cnnmoney.com]
The DJIA Index finished the trading session Up 46.32 pts; and
The SPI Futures are currently: Up 30 pts atm.
Of Note in the US this evening:- BOE Announcement [Market moving indicator]
- International Trade [Market moving indicator]
- Jobless Claims [Merits extra attention]
- EIA Natural Gas Report [Merits extra attention]
- EIA Petroleum Status Report [Merits extra attention]
... AND ...
Of note in Australia today:- Unemployment Rate (Aug) [Moderate 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).]Sources Used: nasdaq.com; bloomberg.com & fxstreet.com]- Employment Change (Aug) [Moderate 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).]Sources Used: nasdaq.com; bloomberg.com & fxstreet.com]
Gold is currently trading Down $0.30 & is sitting at $1,254.90/oz atm [Source: Kitco];
Oil is currently trading Up $0.45 & is at $75.12/barrel [Source: Bloomberg]; and
The Dollar: The AUD/USD is currently trading @ 0.9174 cents [Source: Forex. Live]
Have a great day trading today all!
Cheers, Tweets (:
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