Daytrading October 10 afternoon

Thanks Oscar and morning crew.


Half-time round-up:

Shares opened the week with modest gains as takeover action and upbeat US equity futures offset any nerves about the second US presidential debate.

At 1pm EST the ASX 200 was 14 points or 0.3% head at 5481 with UGL setting the pace at the top end after a $524 million offer from Cimic Group, formerly Leighton's. The best sector returns were in gold +1.3%, telecoms +1.2%, metals & mining +0.6% and financials +0.5%. Tempering gains were declines in energy -1%, consumer discretionary -0.4% and industrials -0.3%.  

US equity futures remained bright as Hillary Clinton and Donald Trump faced off in the second of three debates. Dow futures were recently up 40 points or 0.22%. Trump's campaign was rattled over the weekend by revelations of sexist remarks made on camera in 2005.

"This is dangerously close to the election, so it's harder for him to recover," Shane Oliver, head of investment strategy at AMP Capital Investors, told Fairfax.. "It tends to be the case that when it looks more likely that Clinton will win, markets rally. Much will depend on the debate and we will be watching how Trump handles the issue in the debate and what Clinton makes of it."

China's Shanghai Composite improved 0.56%. Hong Kong's Hang Seng and Japan's Nikkei were shuttered for holidays.

Crude oil futures skidded 57  cents or 1.14% this morning to US$49.24 a barrel. Gold futures were $7.30 or 0.57% higher at US$1,259.20 an ounce. The dollar was buying 76.06 US cents.


The market is rooting for a Clinton victory - safe, establishment candidate unlikely to do anything rash. (Arguably unlikely to do anything.) Extraordinary that Trump has got this far. Underlines the depth of loathing/despair over the political system in the US. Trading: one of those happy days when a handsome wage comes in the first half hour. Traded the bounce in IFN to perfection - a rarity in my trading life. Fished around since then without result.  Might have to reflood the bathroom if things don't liven up.