Day Trading 10 Jan Pre Market

Morning all
Thanks AM crew

The ASX is set for a flat opening today, following on from the biggest fall this year Monday, after US markets rallied late in the session, driven by healthcare and material stocks,reversing earlier weakness.

Earlier European markets fell for the seventh straight session to their lowest levels since Sept 2103 as banks continued to be punished as investors fret over the threat to banks' profitability and capital strength from compressed interest rate margins.
The pan-European FTSEurofirst 300 lost 1.6 percent to close at 1,219.82 points after falling by as much as 2.6 percent to its lowest since September 2013.
The European banking index fell 4 percent, reversing earlier gains after Monday's 5.6 percent slump.
"The mood is clearly negative. What is needed is a strong and clear message from the ECB," said Activtrades Chief Market Analyst Carlo Alberto De Casa. 1
Materials stocks were also battered around tge ring, falling over 5%, Anglo American 11%
STOXX - 1.8%
FTSE 1-%
DAX -1.1%

In the US markets have closed flat but recovered from their lows. A rally in materials and health-care stocks helped the main indexes reverse earlier losses that were fueled by a sharp drop in oil prices.
Energy shares remained down sharply as Brent crude settled 7.8 percent lower on the day, and the group offset gains in other sectors.
U.S. stock indexes have struggled for most of 2016, falling sharply on increasing worries of a sustained global slowdown.
"Over the last couple of days, that's spread into the financial system. It's difficult to find a lot of momentum to the upside for any sustained period of time," said Steven Baffico, chief executive officer at Four Wood Capital Partners in New York. 2
Declines this week have been heaviest in shares with the highest price-earnings ratios and among momentum stocks, causing the engine of the bull market to sputter as it nears its seventh anniversary.
S&P -.05%
Nasdaq -.2%

Oil prices slid for a fourth straight session on Tuesday and teetered close to 12-1/2-year lows hit last month, after weak demand forecasts from the U.S. government and the western world's energy watchdog, while weak equities also pressured prices.
"The longs got out, the shorts jumped back in and there was possibly a whole lot of hedging by producers today to sell oil at whatever low price they could," said Scott Shelton, broker and commodities specialist with ICAP in Durham, North Carolina. 2
Oil $28.33 -$1.36
Copper, Zinc -2%
Nickel -1.3%

Gold prices ended the U.S. day session near steady Tuesday, on some mild profit-taking pressure and some technical chart consolidation following Monday’s strong gains that pushed prices to an eight-month high just above $1,200.00. Sellers in safe-haven gold are still very timid, as world stock markets this week remain under selling pressure. 2

Gold $1189
HUI -2.5%
AUD Gold $1680

There is still risk aversion in the marketplace Tuesday. Japan’s Nikkei stock index dropped 5.4% in its biggest daily decline in almost three years. 3

On today
HIA new home sales December.
Earnings: AGL Energy, Boral, Bradken, CBA, Computershare, Oz Minerals, Reckon, Stockland.
Janet Yellen will appear before the Senate Banking Committee.
OPEC monthly oil report.
Earnings: Time Warner, Humana, Cisco Systems,



Have a good day

1.Reuters
2 SMH
3 *****