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

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

Outlook for the day: Negative after the first full session of the US trading week ends with modest falls.

ASX futures: down 37 points or 0.51%

Overnight themes:

• US stocks break a three-session win streak ahead of a flurry of economic data that will sway whether the Federal Reserve raises rates this month.
• The minutes from last month's Fed meeting show "some participants" wanted to hike in June. "Most" policymakers wanted to leave rates on hold to allow more time to assess the economy. Sixteen of eighteen officials expect at least one more rate hike this year.
• Last night's market weakness precedes a string of employment-related reports this week, including the official June jobs report tomorrow night.
• “Since the Fed is data dependent, so is the market” - Paul Nolte, senior wealth advisor at Murphy & Sylvest Wealth Management.
• Chip-makers retreat after China imposes export controls on two metals widely used to make semiconductors.
• Mining stocks fall almost 2.5% after US factory orders miss expectations. Orders increase by 0.3% in May, versus expectations for a surge of 0.8%. A separate manufacturing measure contracts for an eighth straight month.
• Four of eleven US sectors advance: communication services, utilities, real estate and consumer discretionary.
• Oil climbs to its highest in two weeks after Saudi Arabia promises to do whatever it takes to maintain prices. The world's largest producer is expected to extend its voluntary production cut at tonight's OPEC+ meeting.

Key events today:

• Trade balance - 11.30 am AEST
• US monthly ADP Non-Farm Employment Change, job openings, weekly jobless claims - tonight

S&P 500: down nine points or 0.2%

Dow: down 130 points or 0.38%

Nasdaq: down 25 points or 0.18%

Dollar: down 0.56% to 66.56 US cents

Iron ore (Dalian): up 0.7% to US$114.39

Brent crude: up 40 US cents or 0.5% to US$76.65 (21-week high)

Gold: down US$2.40 or 0.1% to US$1,927.10

NYSE Arca Gold Bugs: down 2.99%

Copper (LME): down 0.44% to US$8,322.50

Nickel (LME): up 3.32% to US$21,190

Global X Lithium & Battery Tech ETF: down 0.19%

BHP: down 2.25% (US); down 1.01% (UK)

Rio Tinto: down 1.26% (US); down 0.65% (UK)