Day trading pre-market open May 14

Originally posted by highlandlad: ↑

Morning traders. Thanks loungers, especially @Ravgnome.

Outlook for the day: Mildly negative ahead of tonight's Federal Budget and twin US inflation reports this week.

ASX futures: down 8 points or 0.1%

Overnight themes:
US stocks finished mixed after a report showed Americans were growing increasingly gloomy about the outlook for consumer prices.
The Dow's longest win streak since December ended at eight with a loss of 0.21%. The S&P 500 also closed modestly lower, off 0.02%. The Nasdaq gained 0.29% as tech stocks outperformed.
A survey showed Americans foresaw inflation at 3.3% a year from now, up from 3% when the survey was last carried out the previous month. The report followed a slump in consumer sentiment last month to a six-month low. April inflation reports are due tonight (wholesale) and tomorrow night (consumer).
"Today and tomorrow are going to be all about Wednesday's consumer inflation report. In the last three months that's been the single biggest mover. Each of these times inflation's come in a little bit stickier than investors had expected. Each time that's happened investors have ratcheted back expectations for interest rate cuts" - Burns McKinney portfolio manager at NFJ Investment Group (per Reuters).
A revival of Covid-era meme-stock mania sent GameStop up 74.4% and AMC Entertainment up 78.35%. The rallies appeared to be triggered by the first online post by Reddit trader and meme-stock champion Roaring Kitty in three years. Short-sellers in the two stocks once again took a pounding.
Just two of eleven S&P sectors advanced: tech +0.48% and real estate +0.29%. The biggest drags were: industrials -0.45%, financials -0.41% and consumer staples -0.28%. The materials sector finished 0.08% in the red.
The major stock benchmarks were coming off three weeks of gains that carried them back to within touching distance of all-time highs. The Dow gained more than 2% last week.
Copper bounced 2%, back towards two-year highs, as a third straight monthly increase in consumer prices in China hinted that the economy might be regaining momentum. Nickel and other base metals also rose.

Key events today:
Federal Budget - tonight
US April wholesale inflation (PPI) - tonight
Speech by Federal Reserve Chair Powell - tonight

S&P 500: down 1 point or 0.02%

Dow: down 81 points or 0.21%

Nasdaq: up 47 points or 0.29%

Dollar: up 0.13% to 66.08 US cents

Iron ore (Dalian): up 1.66% to US$122.77

Brent crude: up 57 US cents or 0.69% to US$83.36

Gold: down US$32 or 1.35% to US$2,343

NYSE Arca Gold Bugs: down 0.77%

Bitcoin: up 3.28% to US$63,126

Copper (LME): up 2.02% to US$10,206

Nickel (LME): up 0.39% to US$19,135

Uranium (spot price): up 0.82% to US$91.75

Lithium carbonate (China spot): down 1.5% to US$15,156

Global X Lithium & Battery Tech ETF: up 0.42%

BHP: down 0.02% (US); down 0.65% (UK)

Rio Tinto: up 0.06% (US); down 0.73% (UK)

Expand

Today belongs to COPPER.

What a performance o/n.

SYR

Syrah jumps +19% as graphite tariff threat spurs optimism down under

SER

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

DRO

History repeats for DroneShield investors but carnage so far subdued

PSC

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

STN

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

BDM

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

AII

Day trading pre-market open May 14, page-2

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

History repeats for DroneShield investors but carnage so far subdued

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

A new NASDAQ listing for a key player in the global critical minerals space

Featured News

Featured News

Day trading pre-market open May 14, page-2

Top Stories

Syrah jumps +19% as graphite tariff threat spurs optimism down under

Strategic Energy extends its QLD copper-gold frontier with Diamantina acquisition

HotCopper Highlights: Trigg; Droneshield; Lumos & more

Week 29 Wrap: ASX hits new all time high of 8,766pts ahead of Aug 1

History repeats for DroneShield investors but carnage so far subdued

Prospect's Mumbezhi Project puts it at the middle of copper's megatrend. And FQM just bought in

Saturn brings up seventh straight Apollo Hill upgrade on 'impressive' 300-hole drill run

Burgundy plunges -20% after turning to layoffs to navigate record-low diamond prices

Listen: HotCopper Wire Podcast 018 – Potatoes, TACOs, and the $120M helicopter heist

A new NASDAQ listing for a key player in the global critical minerals space

Featured News

Featured News