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Hate to be a nitpicker but your gold pricing is not really...

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wrighty64

4,682 Posts.

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16/08/24

07:57

Post #: 75230897
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Originally posted by highlandlad: ↑

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

Outlook for the day: Highly positive after US stocks rose for a sixth session and key commodity prices rebounded.

ASX futures: up 77 points or 0.99%

Overnight themes:
US stocks posted a sixth straight gain after solid retail sales growth, a profit upgrade from Walmart and a dip in claims for unemployment benefits soothed recession fears.
The S&P 500 rallied 1.61% to its highest close in almost a month. The broadest of the major US benchmarks has now regained all of its losses during a three-day "recession scare" earlier this month.
The Nasdaq surged 2.34%. Tesla and Nvidia were notably strong.
The Dow put on 1.39% as just four companies sat out the rally. Cisco, Walmart and Nike all gained at least 5%. Economic bellwether stocks Boeing and Caterpillar also posted solid gains.
The odds on a 25 basis point September rate cut rose from 65% to 76.5% after several signs of strength in the US economy. Retail sales increased 1% last month, more than reversing a 0.2% dip in June. Weekly first-time jobless claims contracted by 7,000 to 227,000. Retail bellwether Walmart hiked its profit forecast as Americans continued to shop.
"The wall of worry is beginning to crumble as sentiment is improving and the fundamentals support a risk-on bias. Retail sales were above expectations, Consumer Price Index numbers came in at a tolerable level, so the fundamental backdrop is consistent with rising equity prices" - Terry Sandven, chief equity strategist at U.S. Bank Wealth Management (per Reuters).
Walmart's trading update helped lift the consumer discretionary sector 3.38%. A revenue beat from Cisco fuelled a 2.54% jump in tech stocks. Also strong: materials +1.5% and industrials +1.32%.
Two sectors retreated as treasury yields climbed: utilities -0.02% and real estate -0.34%.
Disruption at BHP's Escondida mine in Chile helped power copper to a two-week high. Benchmark copper prices on the London Metal Exchange rallied 1.89% after union workers refused BHP's request to suspend a strike. Aluminium, nickel, zinc, lead and tin gained between 0.51% and 2.92% during a strong session on the LME.
BHP and Rio Tinto shrugged off a 14-month low in iron ore. The miners rebounded between 0.49% and 0.77% in UK and US trade overnight despite benchmark ore prices in China sliding further below US$100 a metric ton. Ore futures declined 2.09% on the Dalian Commodity Exchange to US$98.32 a metric ton. Prices fell for a fourth day after a housing report showed new construction was 23.2% weaker this year than the same period last year.

Key events today:
Corporate earnings: NAB, Amcor, ASX, Domain Holdings, Charter Hall Retail REIT, GQG Partners, 3DP Learning (source: CommSec)
RBA Governor Michele Bullock testifies before the House economics committee - 9.30 am AEST

S&P 500: up 88 points or 1.61%

Dow: up 555 points or 1.39%

Nasdaq: up 402 points or 2.34%

Dollar: up 0.22% to 66.12 US cents

Iron ore (Dalian): down 2.09% to US$98.32

Brent crude: up US$1.28 or 1.6% to US$81.04

Gold: up US$12.70 or 0.5% to US$2,492.40

NYSE Arca Gold Bugs: up 0.6%

Bitcoin: down 3.5% to US$56,982

Copper (LME): up 1.89% to US$9,138

Nickel (LME): up 0.68% to US$16,315

Lithium carbonate (China futures): down 2.71% to US$10,549

Global X Lithium & Battery Tech ETF: up 2.19%

Uranium (spot): steady at US$81.50

BHP: up 0.77% (US); 0.49% (UK)

Rio Tinto: up 0.5% (US); up 0.76% (UK)

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Hate to be a nitpicker but your gold pricing is not really relevant to the day trading forum as i think you may be quoting the December forward contract for gold rather than the live price that is atm 2456.820 as per the contract price of 2492.40.
34.00 Price differential skews the actual price.
Golds low 11pm last night was 2431 and that has recovered to 2456.82 goldies tend to follow live trends.
Still love your work H.L just putting out there.
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