Day trading pre-market open August 21

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

Outlook for the day: Futures point to a negative open for the start of a big week of corporate earnings following a losing week on Wall Street. However, a Chinese pledge yesterday to tackle local government debt problems may soften the outlook. The Australian dollar bounced more than half a percentage point following the news.

ASX futures: down 23 points or 0.32%

Friday/weekend themes:

· Wall Street's main indices end mixed but little changed at the end of a losing week.

· Megacap growth stocks weigh as US treasury yields ease but remain within touching distance of 16-year highs. Energy producers and defensive sectors advance.

· The CBOE volatility index, sometimes nicknamed Wall Street's "fear gauge", touches its highest in three months.

· The Nasdaq suffers its largest three-week loss since December, falling 7.2%. For the week, the Nasdaq sheds 2.6%, the Dow 2.2% and the S&P 500 2.1%.

· "We've long been overdue for a correction in equities, and it's clear that higher rates have now become the catalyst for that" - Michael Reynolds, vice president investment strategy at Glenmede.

· The dollar bounces off nine-month lows this morning after Chinese policy-makers announce fresh support for their struggling economy. The People's Bank of China and financial regulators promise coordinated support for local governments. The bank is also expected to cut lending rates this week.

· Gold breaks its worst losing run in six years. The yellow metal edges up less than 0.1% to its first gainin ten sessions.

· Oil bounces at the end of its first losing week in two months. Brent crude gains 0.8% for the session but loses 2.3% for the week as a rising greenback crimps overseas demand.

· ASX heavyweights BHP and Rio Tinto continue to exhibit divergence from the price of iron ore. Rio hovers near nine-month lows while Chinese ore rises for a seventh session. BHP closes near a three-month low.

· Lithium mania continues to wane with the Global X Lithium & Battery Tech ETF closing at its weakest in the US since March 2021.

Key events this week:

· Full-year earnings season. Highlights include: BHP, Woodside Energy, Coles (Tue); Santos,Woolworths (Wed); South32, Qantas (Thu); and Wesfarmers (Fri).

· China interest rate decision - 11.15 am AEST today

· Flash manufacturing/services PMIs - Wednesday

· US manufacturing, house sales - Wednesday

· US durable goods orders - Thursday

· Jackson Hole Symposium (US) - Thursday/Friday

S&P 500: down 1 point or 0.01%

Dow: up 26 points or 0.07%

Nasdaq: down 26 points or 0.2%

Dollar: up 0.58% to 64.12 US cents

Iron ore (Dalian): climbs 2.94% to US$105.87 (7th straight gain)

Brent crude: up 68 US cents or 0.8% to US$84.80

Gold: up US$1.30 or 0.1% to US$1,916.50

NYSE Arca Gold Bugs: down 0.32% (5-month low)

Copper (LME): up 0.29% to US$8,259

Nickel (LME): down 0.89% to US$20,130

Lithium carbonate (China spot): down 0.66% to US$31,247

Global X Lithium & Battery Tech ETF: down 1.15% (29-month low)

BHP: down 0.76% (US); down1.6% (UK)

Rio Tinto: down 0.39% (US); down 0.77% (UK)