Day Trading Pre Market 8.1.24

Morning Traders

I am filling in this week for the immortal @highlandlad as he is off shirking so bear with me I'm pretty rusty at the HC market opens

ASX SPI futures -3 point to a flat open following the worst start to a new year since 2007 for the local market following its 1.3% decline for the first week. The XJO is within spitting distance of record highs, perhaps needing a fresh catalyst to push through. The session ahead will face early pressure from index heavy BHP following its 0.85% decline in the US

The US session nudged itself to a marginal green finish friday after following a choppy session with the SP 500 0.2% firmer, the Nasdaq 0.1%, also recording their worst start to a year since 2003, thus ending a remarkable 9 week green streak. Interestingly the VIX recorded a 5.5% fall

A strong US jobs report friday has probably pushed hopes of any near term rate cuts down the road.
Morgan Stanley commented “We do not think the labour market is showing the slowdown needed for the Fed to cut soon and think a bumpy path ahead on inflation will keep the Fed from cutting before June, when we expect the first 25bp cut.


Godl $2045 +$1
WTI Oil $73.95 + 2.4%
Iron Ore -1.8% $US138.65
Copper $3.80 lb -1.1%
Uranium URNM 1.85% after market after -0.5% close
Global X LIT ETF - 0.1%

BHP US -0.85%
RIOUS- 0.5%