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

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



    Outlook for the day: Neutral as declines in commodities offset modest gains on Wall Street.


    ASX futures: up two points or 0.03%



    Overnight themes:

    • US stocks edge to fresh 15-month highs as the corporate earnings season continues.
    • The Dow logs its longest win streak in four years, rising for an eighth session. The Nasdaq is held back by Microsoft following reports that Apple is working on AI products.
    • Earnings from Goldman Sachs, US Bancorp, Citizens Financial and M&T Bank help lift the S&P 500 bank index to its eighth gain in nine sessions as fears over this year's regional US bank collapses continue to subside.
    • “Bank earnings are better than feared and are pushing the episodic crisis from the [northern] spring further into the rearview mirror and (thus far) continue to trade like a soft landing will occur” - George Catrambone, head of fixed income and trading at DWS Group.
    • Tesla, Netflix and IBM reported shortly after the end of regular trade this morning. Tesla was lately up 0.36% in after-market trade. IBM eased 0.36% and Netflix 5.27%.
    • Coal futures near a three-month high in China following production halts related to safety issues at mines.
    • Gold holds at a six-week high as a decline in US treasuries helps offset a rise in the US dollar.


    Key events today:

    • June jobs data - 11.30 am AEST (Expected: +15,400 jobs; unemployment rate steady at 3.6%)
    • Q4 business confidence - 11.30 am


    S&P 500: up 11 points or 0.24%


    Dow: up 109 points or 0.31%


    Nasdaq: up 4 points or 0.03%


    Dollar: down 0.62% to 67.71 US cents


    Iron ore (Dalian): down 0.6% to US$115.60


    Brent crude: down 17 US cents or 0.2% to US$79.46


    Gold: flat at 6-week high of US$1,980.80


    NYSE Arca Gold Bugs: down 0.07%


    Copper (LME): down 0.48% to US$8,432.50


    Nickel (LME): down 1.37% to US$20,900


    Global X Lithium & Battery Tech ETF: down 0.62%


    BHP: down 1.13% (US); up 0.41% (UK)


    Rio Tinto: down 1.38% (US); down 0.27% (UK)

    Last edited by highlandlad: 20/07/23
 
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