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Spectrum Live
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Spectrum Live's market and trade talking place
Spectrum Live's market and trade talking place

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CHART OF THE DAY: USDJPY. Please call the Trading Desk on 1300 364 218 for Trade Ideas.
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Gold dropped to a three-week low in New York as payrolls in the U.S. rose more than forecast in October, increasing speculation that the Federal Reserve may start reducing economic stimulus by the end of this year.
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Facebook Inc. (FB) Director Marc Andreessen’s venture-capital firm sold a third of its holdings in the world’s biggest social-networking service after the stock price reached a record last month. Andreessen Horowitz sold 2.28 million shares on Nov. 6, according to a filing with the U.S. Securities and Exchange Commission yesterday. The shares were sold at about $49 to $50 apiece, making the divestment worth more than $111 million, the data show. The firm still holds4.57 million shares.
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Twitter Inc. fell 7.2 percent, erasing some of the euphoria that caused shares of the short-messaging site to almost double at their market debut. Twitter, which raised $2.09 billion in its initial public offering this week, declined to $41.65 at the close in New York from yesterday’s $44.90.
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U.S. stocks rose for the week, giving the Standard & Poor’s 500 Index the longest winning streak since February, as signs of a stronger economy overshadowed concern the Federal Reserve will scale back stimulus.
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CHART OF THE DAY: Best Buy Co Inc (BBY.xnys).  Please call the Trading Desk on 1300 733 311 for Trade Ideas.
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As the earnings data floods the market investors got their first look at major financial earnings with Wells Fargo (-0.85%) reporting to the market. The Californian based bank managed to meet revenue expectations but lending profit margins were reduced. Other financial majors to report this week will be JPM, GS, BAC and C
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Markets closed the session flat as risk aversion increased ahead of the flurry of quarterly earnings reports due out this coming week. However despite the air of caution surrounding the market the major indexes still booked a weekly gain
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• USD was slightly stronger against the AUD while the EURUSD moved higher
• Gold fell 1% to end the week flat while Crude dropped 2%,dragged lower by gasoline
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CHART OF THE DAY: SPDR KBW Bank ETF (KBE.arcx). Please call the Trading Desk on 1300 733 311 for Trade Ideas
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