Day Trading 5 Jan Pre Market

Good Morning All
Thanks After Hours Regulars

The ASX is set to open sharply lower this morning as weak Chinese data served to steamroll world markets overnight.
SPI futures are lately 53 points weaker at 5199

U.S. stocks tumbled on Monday, putting the Dow on track for its worst start to a year since 1932 after weak Chinese economic data fanned fears of a global slowdown.
Surveys showed factory activity in the world's second-largest economy shrank sharply in December, sparking a 7-percent slide in Chinese shares that triggered a trading halt.
Adding to investors' worries, China's central bank fixed the yuan at a 4-1/2 year low, further weakening it against the dollar.
U.S. data sparked further concern as factory activity weakened unexpectedly in December, according to the Institute for Supply Management.
Index heavyweights JPMorgan was down 3.5 per cent at $US63.28, while Apple fell 2 per cent to $US103.09.
Amazon weighed the most on the S&P and Nasdaq, falling 5.9 per cent to $US636.08.
There was the turmoil overnight overseas that kind of set the tone ... (but) all of the negatives out there have been out there for a while," said Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.
"The fact that we closed down on the year, the Fed tightened, it crystallised in investors' minds that we're not in the environment we were in throughout most of the recovery."
The Dow Jones industrial average  was down 412 points, the S&P 500 down 2.2%, the Nasdaq Composite 3%
The S&P 500 .SPX was on track for its worst start to a year since 2001.
The selloff was widespread but not as deep as the slide caused by worries of a China-led global slowdown in August, when the Dow tumbled more than 1,000 points at one point.

Base metals fell in line with market weakness, nickel off 3.2%, aluminium 2.65%, copper and zinc more than 1.5%.

Safe-haven buying amid keener uncertainty in world markets on Monday boosted gold prices. Unrest in the Middle East and weak Chinese economic data worked to lift gold to a three-week high, while putting downside pressure on stock markets worldwide. Gold and silver futures markets also saw some short-covering buying support. February Comex gold was last up $14.60 at $1,074.80 an ounce.
HUI +3.2%
AUD Gold $1496

AUD .7184

BHP ADR - 1.1%

Have a good day

Reuters, SMH, *****