Day Trading Pre Market 4 August

THE PENSKE FILE 2 AUGUST



Morning all HLL is away fighting fires in the Blue Mts

The ASX looks to open flat, the Sept. SPI contract shedding 1 point to 5612.
Overnight European stocks gained around 1% despite the Greek markets reopening decidedly lower.
The DAX gained 1.2%, STOXX 50 1% while the FTSE lost 7 points.

U.S. stocks declined, after equities posted their best monthly gain since February, as commodities producers sank and Apple Inc. fell into a correction.
The Standard & Poor’s 500 Index retreated 0.3 percent to 2,097.97 at 4 p.m. in New York, after falling as much as 0.8 percent, to close above its average price during the past 100 days.
“China numbers were weak and I think there’s growing concern about the general overseas economic pictures and how that might affect the U.S. economy,” said John Carey, a Boston-based fund manager at Pioneer Investment Management, which oversees about $230 billion. “A lot of mixed signals and crosscurrents here.”

Commodities dropped after an official gauge of Chinese manufacturing slid to a five-month low and Iran said it will be able to bolster crude production within a week of sanctions ending.
The slide in equities accelerated Monday after the S&P 500 fell below its average price for the past 100 days, a level commonly watched by market technicians. The gauge last dropped below the 100-day moving average on July 24 during its longest losing streak since January. The S&P 500 is about 1.3 percent above its 200-day average, a level that has stopped the last two declines of more than 2.8 percent.
Focus will turn later this week to the monthly payroll report due Friday, as the Federal Reserve looks for signs of a further pickup in the labor market before raising interest rates. Fed Chair Janet Yellen said in July she expected the central bank to raise its benchmark rate this year, while emphasizing the pace of increases will probably be gradual.
“At this point the focus is largely falling on the Fed, so the macro becomes the dominant conversation in terms of will they or won’t they,” said Dan Greenhaus, chief global strategist in New York at BTIG LLC. “That’s really the conversation point through what is likely to be a slow month. Everyone’s going to be focusing on the economic data.”

Greece's stock market closed with heavy losses on Monday after a five-week shutdown brought on by fears that the country was about to be dumped from the euro zone.
Bank shares plummeted 30 per cent before loss limits kicked in to stop investors selling any more. The main Athens stock index ended down 16.2 per cent, recovering slightly after plunging nearly 23 per cent at the open. Monday's losses stemmed from a number of reasons. Negotiations on the new bailout might bog down, for example, leaving the government and banks perilously short of cash. Greece's dismal economic prospects may also weigh on the market. The European Commission says the Greek economy will shrink by 2 to 4 per cent this year, a return to the recession that plagued the country for six years until 2014.

In commodities Gold shed .8% last at $1088, Crude $1.78 to $45.34.
Base metals: copper, aluminium & lead flat, nickel lost another 2.6% and zinc 1%





The $AUD shed another .25% last at 72.87
Locally, the RBA meet today, consensus being that interest rates will remain unchanged. General commodity weakness and Chinese volatility will continue to shape our markets

Good luck all