Day trading pre-market open July 5

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

Outlook for the day: Mildly negative following a subdued night on European markets during the July 4 US holiday.

ASX futures: down 12 points or 0.17%

Overnight themes:

• European stocks end little changed in thin trade while Wall Street has the night off for Independence Day.
• The pan-European Stoxx 600 inches up less than 0.1%. Benchmarks in the UK, Germany and France lose between 0.1 and 0.26%.
• "In what has been another quiet session European markets have traded sideways with little in the way of overall direction, with U.S. markets closed for the Independence Day holiday" - Michael Hewson, chief market analyst at CMC Markets.
• European miners retreat with metal prices following soft Chinese economic data. Battered property stocks rise as investors look past worries about the impact of higher rates on real estate prices.
• Oil rebounds after Saudi Arabia and Russia announce production cuts to support prices.

Key events today:

• May retail sales - 11.30 am AEST
• China services PMI - 11.45 am
• OPEC meeting - tonight
• Minutes from the most recent Federal Reserve meeting - tonight

Stoxx 600: up 0.07%

S&P 500: US holiday

Dow: US holiday

Nasdaq: US holiday

Dollar: up 0.23% to 66.89 US cents

Iron ore (Dalian): steady at US$113.86

Brent crude: up US$1.60 or 2.14% to US$76.25

Gold: up US$4.10 or 0.21% to US$1,933.60

NYSE Arca Gold Bugs: US holiday

Copper (LME): down 0.46% to US$8,359

Nickel (LME): down 0.73% to US$20,510

Global X Lithium & Battery Tech ETF: up 0.05% (UK listing)

BHP: down 0.63% (UK); (US holiday)

Rio Tinto: down 0.81% (UK); (US holiday)