Day Trading 7 Jan Pre Market

Good Morning All
Thank you Trees and regulars

The ASX looks set for a probable fifth consecutive losing session today following continued pressure on energy and oil stocks and concerns from the minutes of the last Fed meeting. Concerns over Chinese growth also continue to weigh on sentiment.
SPI futures are 11 points lower at 5065

European stocks declined to a three-week low on Wednesday, hit by weakness in the commodity sector as concerns over the Chinese economy resurfaced after it allowed the yuan to weaken further and poor services sector data was reported.
The FTSEurofirst 300 index of top European shares closed 1.3 percent lower at 1,392.40 points after falling to 1,382.96, the lowest level since mid-December.
Declines were broad based, with all STOXX 600 sectors trading in negative territory. However, basic resources stocks, including miners, down 3.3 percent, were the biggest sectoral faller.
Shares in Anglo American, BHP Billiton, Glencore and Rio Tinto fell 2.7 to 4.9 percent.
Miners came under pressure after the People's Bank of China set a weaker midpoint for the yuan, prompting concerns that the economy of the world's largest metals consumer could be in worse shape than previously believed.
DAX -.95%
FTSE -1%

Energy and raw-material companies in the Standard & Poor's 500 Index sank at least 2.8 per cent as China's move revived the angst that sent financial markets into turmoil last summer. Chevron declined 4.6 per cent, while copper producer Freeport-McMoRan slid 8 per cent. Equities showed little reaction to the Federal Reserve's latest meeting minutes which showed some policy makers saw the decision to raise interest rates as a "close call".
The S&P 500 was on track for its lowest level since October 6. The Dow Jones Industrial Average was on pace for its worst three-day start to a year since 2008.
"This is risk aversion right now," said Benjamin Dunn, president of Alpha Theory Advisors, which works with hedge funds overseeing about $US6 billion. "Not a lot of people had conviction coming into the year after a violently flat to down year, and now we're perhaps getting confirmation that China is as bad as people think. We've lost the tailwinds from the Fed and investor enthusiasm, and this adds to the mosaic of fear that's out there right now."
S&P -.9%
Nasdaq -1.2%

Oil prices fell below $US35 per barrel for the first time since 2004, tumbling as much as 5.9 per cent as the row between Saudi Arabia and Iran made any cooperation between major exporters on cutting output even more unlikely. Supplies in Cushing, Oklahoma, the delivery point for West Texas Intermediate crude, climbed to an all-time high of 63.9 million. A sharp rise in gasoline stocks in the US also reinforced the picture of a market that is awash with oil and refined products.
Oil $33.97 -$2.00

Ore with 62 per cent content delivered to Qingdao fell 0.5 per cent to $US42.91 a dry ton on Wednesday, according to data compiled by Metal Bulletin. The decline came as exports of iron ore from Port Hedland increased in December, capping a record year.

Copper hit a two-week low as the weaker yuan and poor Chinese services sector data fanned fears over slowing growth. Benchmark three-month copper on the London Metal Exchange closed down 0.5 per cent at $US4620 a tonne, having hit a low of $US4593 earlier.
Nickel +1.2%
Aluminium + 1.1%
Zinc - 1.9%

BHP ADR -6%

Gold prices ended the U.S. day session solidly higher and scored a seven-week high Wednesday. A very busy day in the marketplace saw fresh geopolitical concerns fueling more safe-haven buying in the precious metal. More short covering in the gold futures market was also featured, as the rising price has forced the recent sellers to capitulate. February Comex gold was last up $16.10 at $1,094.70 an ounce.
HUI +2.2%
AUD Gold $1548 +2.9%

The Aussie was 1.3 per cent lower at US70.66¢ after earlier falling as low as US70.49¢, compared with Wednesday's local close of US71.20¢. The plunge came amid renewed concerns about China's economic outlook, falling commodity prices and the US central bank's determination to lift interest rates.

On today
Australia November trade balance,
Australia November building approvals

Eurozone November labour force survey

Have a good day