Day trading pre-market open August 7

Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.

Outlook for the day: Mildly negative after US stocks sink for a fourth session.

ASX futures: down 11 points or 0.15%

Friday themes:

· Wall Street wraps up its worst week since March with a fourth straight losing session.

· Early gains give way to afternoon selling as investors digest mixed corporate earnings and a drop in the unemployment rate.

· Amazon jumps 8.27% on a positive outlook and profit beat. Apple sheds 4.8% after reporting a decline in revenue.

· The jobless rate drops to 3.5% from 3.6% after the economy adds 187,000 jobs in July. A 0.4% rise in average hourly wages underlines enduring inflationary wage pressures.

· Just two sectors rally: consumer discretionary (which includes Amazon) +1.91% and energy +0.03%. Tech, utilities and consumer staples fall more than 1%.

· For the week, the S&P 500 loses 2.3%, the Nasdaq 2.9% and the Dow 1.1%.

· “People this week seem more respectful of risk than they were before” - Steve Sosnick, chief strategist at Interactive Brokers.

Key events this week:

· July job ads - 11.30 am AEST

· Consumer sentiment, business confidence - Tuesday

· China inflation data - Wednesday

· US inflation data - Thursday

S&P 500: down 24 points or 0.53%

Dow: 150 points or 0.43%

Nasdaq: down 50 points or 0.36%

Dollar: down 0.12% to 65.75 US cents

Iron ore (Dalian): down 0.8% to US$101.03

Brent crude: up US$1.10 or 1.3% to US$86.24 (6th weekly gain)

Gold: up US$7.30 or 0.4% to US$1,976.10

NYSE Arca Gold Bugs: up 1.26%

Copper (LME): down 0.73% to US$8,548.50

Nickel(LME): down 1.94% to US$21,280

Global X Lithium & Battery Tech ETF: down 0.59%

BHP: up 0.1% (US); up 0.28% (UK)

Rio Tinto: down 0.03% (US); up 0.21% (UK)