daytrading 16 july pre market

Good morning traders,

The local market looks set for a positive open with the ASX futures showing a reading of +19.

U.S. stocks rose, giving the Standard & Poor’s 500 Index its longest winning streak since January, as better-than-estimated manufacturing data and Citigroup Inc. (C) earnings overshadowed disappointing retail sales.

Citigroup rose 2 percent after profit beat analysts’ estimates as stock-trading revenue surged and losses on unwanted assets declined.

The S&P 500 (SPX) climbed 0.1 percent to a record close of 1,682.58 in New York. The index has gained for eight straight days, the longest stretch since Jan. 25.

“We have our focus on earnings,” James Gaul, a portfolio manager at Boston Advisors LLC, which oversees about $2.6 billion in assets, said by phone. “Citigroup had a good report this morning and the question is whether earnings will be strong enough to push us higher. That’s where the short-term focus will be.”

Retail sales rose less than projected in June. The 0.4 percent gain followed a 0.5 percent increase in May that was less than previously reported, Commerce Department figures showed today. The median forecast of 82 economists surveyed by Bloomberg called for a 0.8 percent advance.

European bourses were in positive territory all day with the FTSE up 0.63 % and the DAX up 0.27 %.

Copper lost 1 cent to 3.14

Gold …..up 10 cents $1283.50 GDX miners index fell 0.33 %

WTI crude +0.08 …..106.32

The major US indexes have yet to take out the intra day high set in May but getting very close.

A new high on an end of day was achieved on both SPX and DOW.

Good luck.