Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Hope everyone had a great Christmas. Time to pay some bills? Let's get at it. Here's the playing field for today:
Outlook for the day: Positive following two days of US stock gains since the ASX last traded.
ASX futures: down 3 points or 0.04% (NB: untraded since Dec 22. In other words, this figure does not reflect positive US action since the ASX closed on Friday.)
Overnight themes:
- US stocks kick off the last week of the year with solid gains as an eight-week rally continues overnight. The S&P 500 closes this morning within 1% of a record.
- Trading volumes are light at the start of a holiday-affected week. All three major indices are shooting for a ninth straight positive week.
- Stocks moved broadly higher on Friday after inflation data supported the narrative that the next move in interest rates will be lower. On Friday, the S&P 500 firmed 0.17%. The Nasdaq added 0.19%. The Dow dipped 0.05%. Overnight, the three indices gain 0.42 - 0.54%.
- "We had a good inflation number on Friday. If inflation continues to move down in January and February, there's a good chance that the Fed may cut earlier than anticipated" - Peter Cardillo, chief market economist at Spartan Capital Securities (per Reuters).
- The odds on a rate cut by March rise to 72.7%, according to CME's FedWatch tool.
- The energy sector spearheads US gains overnight as shipping disruptions in the Red Sea help lift Brent crude back US$80 a barrel. The international oil benchmark pops 2.53% to US$81.07. The US energy sector rises 0.87%.
- Other notable sector gains overnight include: real estate +0.78%, industrials +0.73% and utilities +0.65%. The materials sector firms 0.44%. Financials tack on 0.41%.
- Intel jumps 5.21% after the Israeli government offers the chipmaker a US$3.2 billion grant to build a factory in Israel.
- Chinese stimulus measures help lift iron ore. Ore prices on the Dalian Commodity Exchange rally 1.3% to US$137.22 per metric ton after China announces it will support a second bundle of investment projects, and several state banks cut lending costs.
Key events this week:
- US house sales, jobless claims - Thursday
- China factory data - Sunday
S&P 500: up 20 points or 0.42%
Dow: up 159 points or 0.43%
Nasdaq: up 82 points or 0.54%
Dollar: up 0.31% to 68.25 US cents
Iron ore (Dalian): up 1.3% to US$137.22
Brent crude: up US$2 or 2.53% to US$81.07
Gold: up US$10.50 or 0.5% to US$2,079.60
NYSE Arca Gold Bugs: up 0.08%
Bitcoin: down 3.03% to US$42,179
Copper: LME closed. Last traded price: US$8,570.75
Nickel: LME closed. Last traded price: US$16,550
Uranium: up 1.51% to US$93
Lithium carbonate (China spot): last traded price: US$14,000 (Dec 21)
Global X Lithium & Battery Tech ETF: up 0.79%
BHP: up 0.6% (US); UK closed
Rio Tinto: up 0.47 % (US); UK closed
- Forums
- ASX - Day Trading
- Day trading pre-market open December 27
Day trading pre-market open December 27
-
-
- There are more pages in this discussion • 35 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
SBW
Shekel Brainweigh reports a 50% revenue increase in its Retail Innovation suite and delivers the first batch of 20 Smart Bays to Hitachi as part of a larger order
BM8
Learn of the ASX-listed company that is well-placed to respond to the future global energy demand
Featured News
The Watchlist
JBY
JAMES BAY MINERALS LIMITED
Andrew Dornan, Executive Director
Andrew Dornan
Executive Director
SPONSORED BY The Market Online