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

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


Outlook for the day: Mildly negative after US stocks finish lower on the last session of 2023.

ASX futures: down 22 points or 0.29% (but note: last traded December 28)


Friday themes:

• US stocks finish in the red on Friday, but off session lows, as Wall Street closes out a strong year. The major indices ease between 0.05% and 0.56% during a low-key session without major catalysts.
• The S&P 500 rallies within 0.2% of an all-time high before fading. The broadest of the major indices closes within 1% of a record.
• Sector analysis suggests a mild defensive bias: consumer staples and health are the only sectors to advance, but by less than 0.2%. The biggest sector drags are real estate, consumer discretionary and communication services. The materials sector sheds 0.39%. Financials and tech both lose 0.28%.
• "There's really no reason for today's small sell-off. There's no news that's driving it. I would ascribe it to last-minute portfolio changes, profit taking as we enter the new year, and perhaps some rebalancing" - Oliver Pursche, senior vice president at Wealthspire Advisors (per Reuters).
• Despite Friday's setback, the major indices grind out nine straight weeks of gains to end the year. The weekly win streak is the S&P 500's longest since 2004. Big Tech did much of the heavy lifting as optimism about AI outweighed fears of recession as interest rates soared.
• For the year, the S&P 500 gains 24.2%, the Dow 13.7% and the Nasdaq 43.4%. Tech and other growth sectors outperform. Utilities, energy, consumer staples and health lose ground.
• The Russell 2000 index of small caps has its best month in three years, gaining more than 12% in December as the rally broadens. For the year, the index gains 15.1%.
• Iron ore rises for the first time in three sessions after China's central bank declares it will act to stem deflationary pressures. The Chinese government is scrambling to stimulate economic growth amid a hard property market downturn. China-traded ore firms 0.4%.
• Oil eases at the end of a negative quarter and a losing year. Brent crude dips 0.4% to extend its quarterly loss to 19% and its annual loss to 10.3%.

Key events this week:

• China factory output - 12.45 pm AEDT
• US job openings, manufacturing - Wednesday
• Minutes from latest Federal Open Market Committee policy meeting - Wednesday
• China services PMI - Thursday
• US December private payrolls - Thursday
• US December jobs data - Friday

S&P 500: down 14 points or 0.28%

Dow: down 21 points or 0.05%

Nasdaq: down 84 points or 0.56%

Dollar: up 0.24% to 68.2 US cents

Iron ore (Dalian): up 0.4% to US$138.13

Brent crude: down 11 US cents or 0.14% to US$77.04

Gold: down US$11.70 or 0.56% to US$2,071,80

NYSE Arca Gold Bugs: down 0.52%

Bitcoin: up 2.61% to US$43,618

Copper (LME): down 0.76% to US$8,559

Nickel (LME): down 0.78% to US$16,603

Uranium: up 1.51% to US$93

Global X Lithium & Battery Tech ETF: down 1.87%

BHP: down 0.45% (US); down 0.32% (UK)

Rio Tinto: down 0.11% (US); down 0.31% (UK)