Day trading pre-market open August 15

Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.

Outlook for the day: Neutral as worries about China's economic malaise offset a tech-led rebound on Wall Street.

ASX futures: unchanged at 7,219.

Overnight themes:

• Megacap growth stocks lift Wall Street following back-to-back weekly declines for the Nasdaq and S&P 500.
• Chipmaker Nvidia provides much of the momentum, surging 7.09% after a positive outlook from Morgan Stanley ahead of next week's quarterly trading update. Other Nasdaq giants also rise, including Amazon and Google parent Alphabet.
• Earnings are due this week from retail giants Target, Walmart and Home Depot. July retail sales figures drop tonight.
• The S&P 500 and Nasdaq were coming off weekly declines following mixed inflation data. Treasury yields creep higher. The two-year yield reaches a one-month high.
• "The market has started worrying about inflation again. The feeling had been that inflation was in the rearview mirror and that we were past this, but there are now some concerns that inflation is stickier than expected. We’re seeing higher rates in the bond market” - Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.
• The Australian dollar sinks to a nine-month low amid fears of a China recession. Commodity prices and mining stocks also retreat. The setback follows news that China's largest property developer has suspended trade in its bonds as a property bubble continues to deflate.
• “The developer’s problems are indicative of a structural downturn which will shape the global economy for years to come” - Jennifer McKeown, chief global economist at Capital Economics.
• ASX mining heavyweight Rio Tinto falls to a nine-month low in overseas trade. Global X's exchange-traded fund of battery metal producers trades at its weakest since early May. Gold logs its lowest close in a month.

Key events today:

• Minutes from this month's RBA policy meeting - 11.30 am AEST
• China July industrial production, retail sales, etc - 12 pm
• US July retail sales - tonight

S&P 500: up 26 points or 0.58%

Dow: up 26 points or 0.07%

Nasdaq: up 143 points or 1.05%

Dollar: down 0.07% to 64.9 US cents

Iron ore (Dalian): down 0.4% to US$99.88

Brent crude: down 60 US cents or 0.7% to US$86.21

Gold: down US$2.60 or 0.1% to US$1,944

NYSE Arca Gold Bugs: down 1.56%

Copper (LME): down 0.03% to US$8,292

Nickel (LME): down 1.11% to US$20,050

Lithium carbonate (China spot): down 1.84% to US$33,410

Global X Lithium & Battery Tech ETF: down 1.73%

BHP: down 1.9% (US); down 1.75% (UK)

Rio Tinto: down 1.77% (US); down 1.67% (UK)