Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Outlook for the day: Mildly negative.
ASX futures: down 16 points or 0.22%.
Overnight themes:
- Wall Street's main indices finish mixed as investors weigh upbeat tech earnings against weak economic data and federal debt-ceiling worries.
- The Nasdaq is boosted by trading updates from Microsoft and Alphabet (Google). Microsoft gains 7.24%. Alphabet finishes near flat, down 0.13%.
- The broader market mood is cautious as political wrangling continues in Washington over increasing government borrowing limits, and business spending on equipment declines.
- The Australian dollar falls below 66 US cents for the first time in six weeks following yesterday's inflation surprise.
- Oil skids more than 3% to a four-week low as the OPEC production-cut rally continues to unravel.
Key events today:
- US Q1 GDP, weekly jobless claims - tonight
S&P 500: down 16 points or 0.38%
Dow: down 229 points or 0.68%
Nasdaq: up 55 points or 0.47%
Dollar: down 0.48 % to 66.04 US cents (low: 65.91 US cents)
Iron ore (Dalian): down 0.4% to US$103.52
Brent crude: down US$3.08 or 3.1% to US$77.69
Gold: down US$8.50 or 0.4% to US$1,996
NYSE Arca Gold Bugs: down 1.15%
Copper (LME): steady at US$8,529
Nickel (LME): up 1.79% to US$23,610
Global X Lithium & Battery Tech ETF: up 1.29%
BHP: up 2.21 % (US); up 1.34% (UK)
Rio Tinto: up 1.29% (US); up 1.05% (UK)
