Day trading pre-market open June 22

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

Outlook for the day: Mildly negative following a third straight decline on Wall Street and a mixed night for commodity markets.

ASX futures: down 10 points or 0.14%

Overnight themes:

• US stocks fall for third night after Federal Reserve Chair Jerome Powell warns further rate hikes are likely.
• The big tech stocks that lifted the market to 14-month highs weigh the most. Nvidia, Tesla, Microsoft and Alphabet all lose at least 1%. FedEx drops after warning of waning global demand.
• In testimony before a House committee, Powell says the Fed remains "strongly committed" to bringing inflation back within target: “Nearly all [Federal Open Market Committee] participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year,” he says.
• The odds on a rate rise next month climb to 74%, according to CME's FedWatch tool.
• Growth sectors lead the sell-off. Real estate, financials also weak. Energy, utilities and industrials all gain at least 0.5%. Materials, consumer staples and health also edge higher.
• "It seems the market is catching its breath after a huge start to the month. Historically June isn’t a very strong month for stocks, but this year could go down as one of the strongest Junes ever; so a small break in the run stocks have had is perfectly normal" - Ryan Detrick, chief market strategist, Carson Group.
  

Key events today:

• US jobless benefit claims, home sales, further testimony from Fed Chair Powell - tonight

S&P 500: down 23 points or 0.52%

Dow: down 102 points or 0.3%

Nasdaq: down 165 points or 1.21%

Dollar: up 0.1% to 67.96 US cents

Iron ore (Dalian): down 1% to US$110.86

Brent crude: up US$1.22 or 1.6% to US$77.12

Gold: down US$2.80 or 0.1% to US$1,944.90

NYSE Arca Gold Bugs: down 0.46% (3-month low)

Copper (LME): up 0.5% to US$8,591

Nickel (LME): down 3.28% to US$21,240

Global X Lithium & Battery Tech ETF: down 1.18%

BHP: down 0.67% (US); down 0.74% (UK)

Rio Tinto: down 0.8% (US); down 0.93% (UK)