Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Outlook for the day: Mildly negative after Dow and S&P 500 break four-session win streaks.
ASX futures: down 13 points or 0.18%
Overnight themes:
- US stocks fall as soft economic data and surging oil prices stoke fears of recession.
- Job vacancies fall to a near two-year low, signalling the labour market is cooling under the weight of higher rates. Factory orders decline for a second month.
- Bank stocks fall after the head of JPMorgan Chase says the banking crisis is "ongoing".
- Industrials, energy, materials lead the selling. Defensive sectors buck the downtrend.
- Gold soars to within 2% of its 2020 all-time high as the greenback and bond yields weaken. Oil steadies after Monday's OPEC-fuelled surge.
Key events today:
- Speech by RBA Governor Philip Lowe to the National Press Club at 12.30 pm AEST.
- US non-farm employment change tonight.
S&P 500: down 24 points or 0.58%
Dow: down 199 points or 0.59%
Nasdaq: down 63 points or 0.52%
Dollar: down 0.5% to 67.52 US cents
Iron ore (Dalian): down 2.06% to US$128.10 (2nd straight fall)
Brent crude: up one US cent to US$84.94 (1-month high)
Gold: up US$37.80 or 1.9% to US$2,038.20 (US$31.20 shy of 2020 record close of US$,2,069.40)
NYSE Arca Gold Bugs: up 3.59%
Copper (LME): down 1.81% to US$8,756
Nickel (LME): up 0.39% to US$23,050
Global X Lithium & Battery Tech ETF: down 2.31%
BHP: down 3.07% (US); down 3.55% (UK)
Rio Tinto: down 1.7 % (US); down 1.72% (UK)
