Day Trading 14 Dec Pre Market

Morning all

The ASXis set for an ugly major league ugly open today with a gap down through the 5000 level following falls in overseas market friday.
Dec. SPI futures currently down approx. 1.5% or 73 points at 4948

The Standard & Poor's 500 Index fell the most in more than two months amid a deepening retreat in commodities, as investors prepare for next week's Federal Reserve interest rate decision.
Equities extended a weekly selloff as crude dropped to the lowest level since 2008 in London on expectations for a continuing supply glut.


The S&P 500 slid 2 per cent to 2012.32 at 4pm in New York, posting its first weekly drop in four and its worst since August.
"I think there's a lot of uncertainty with global growth that is just factoring into the year-end positioning," said Kevin Kelly, the New York-based chief investment officer at Recon Capital Partners. "We've seen a broad-based selloff today. There's nowhere to hide out there and that's why this is so brutal. It seems like a redux of August when the Chinese actually devalued their currency in anticipation of a Fed rate hike and stronger dollar."
Stocks have stumbled this month, proving so far an exception to a historical trend of a strong December performance in global equities, with investors rattled before the Fed is widely expected to raise rates on Wednesday for the first time in nearly a decade.
Traders are pricing in a 72 per cent chance that next week's Fed meeting will confirm chair Janet Yellen's belief that the world's biggest economy is strong enough to cope with an increase in borrowing costs. Investors are caught between optimism about the US and concern that weakness in China and the resulting tumble in commodities will damp global growth prospects.
While the selloff in crude has been a driver lately, moves in equities have also been influenced by technical levels on the S&P 500.
S%P -1.9%
Nasdaq -2.2%

European shares fell on Friday on concerns that weakness in the Chinese yuan could weigh on the global economy, while the slump in oil prices added to the gloomy mood before a widely expected rise in US interest rates.
Dax -2.4%
FTSE -2.2%

Brent futures capped the biggest weekly decline in more than a year. The global surplus will persist at least until late 2016 as demand growth slows and the Organisation of Petroleum Exporting Countries shows "renewed determination" to maximise production, the International Energy Agency said Friday. The group chose not to curb output at its December 4 meeting.
Oil prices have slumped to levels not seen since the global financial crisis as a result of OPEC's strategy to defend market share against higher-cost producers.
Oil 0ff $1.14% at $35.36

Iron ore was trading at a fresh 10-year low of just $US38.30 a tonne on Friday night.

Gold $1074 +.25%
HUI +.4%
AUD gold $1492

BHP ADR -5.3$
RIO ADR -4.6%

AUD 71.99

News Today
Aust credit and debt lending

World markets await US interest rate decision early Thursday morning

have a good day

Sources SMH, AFR, *****