The Australian markets were trading in the positive territory after the all important Fed announcement yesterday. The Fed said that it would concentrate on the jobless claims and improve the economy for there on. This made all the United States indices to trade on the higher side just after the speech.

But that rally fizzled out when the Fed said that it was not able to do anything to improve the economy. That made the investors a little bit nervous and that’s why all the major United States indices ended flat by the end of the day. The Dow Jones touched a high of around 13320 in the mid session of the day.

But, slowly the indices came down towards the end of the day. “If we could wave a magic wand and get unemployment down to 5 percent tomorrow, obviously we would do that,” said, the Federal Reserve, on Wednesday. He also added, “But there are constraints in terms of the dynamics of the economy, in terms of the power of these tools and in terms that we do need to take into account other costs and risks that might be associated with a large expansion of our balance sheet.”

The ASX was trading at 4587 flat from yesterday’s close. This index is trading at the important resistance level of 4600 and it has been trading near this resistance level since 3 days. So, it is clearly justified that this is an important level for the ASX.

Technical Analysis:

The ASX is trading at 4587, last time we checked. This level is an important level for the ASX and also, this is a 17 month high for the Australian stock markets. Many analysts feel that this market moved up in anticipation of the Fed’s policy. Many markets around the world moved in anticipation of good news from the Fed and yes, the Fed did deliver.

He said that he would be buying treasuries to bring the unemployment rate down. So, that is a good sign for the economy. But, the last statements from the Fed that it was not able to do anything to improve the United States economy was a bit negative for the stock markets.

Stocks to watch out for:

Aquila Resources is in the news today after the company said that its start of the joint venture project with West Pilbara will begin in February. The stock is up nearly 1 percent and is trading at $2.75, last time we checked.

Bank of Queensland is trading flat after the company is to hold its annual general meeting on this coming Thursday. The stock was trading flat at $7.23.

BHP Billiton is also in the news after the company came out of that controversy of $30 billion between the company and Petro China. The company is trading up by a percent at $35.76, last time we checked.

Coca – Cola Amatil is also in the news today after the company said that the profits and revenues will rise in this quarter after a pickup in sales in beverages. The stock is trading down 2.59 percent at $13.56.

Grab you free Interview with a trader who turned $5000 into 3 million in just 5 years – http://www.tradingandinvesting4u.com/
Watch in live as I show you a AWESOME tip on how to read the stock market – http://www.youtube.com/watch?v=_gSjHkxlhXQ

Grab you free Interview with a trader who turned $5000 into 3 million in just 5 years – http://www.tradingandinvesting4u.com/
Watch in live as I show you a AWESOME tip on how to read the stock market – http://www.youtube.com/watch?v=_gSjHkxlhXQ

Author Bio: Grab you free Interview with a trader who turned $5000 into 3 million in just 5 years – http://www.tradingandinvesting4u.com/
Watch in live as I show you a AWESOME tip on how to read the stock market – http://www.youtube.com/watch?v=_gSjHkxlhXQ

Category: Finances
Keywords: Fed, Concentrates, Unemployment Data