Day trading pre-market open June 29

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

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

ASX futures: down five points or 0.07%

Overnight themes:

• Wall Street's main indices close mixed but mostly lower after the head of the US central bank warns inflation may not fall back within target until 2025.
• The Dow and S&P 500 end modestly in the red. The Nasdaq is boosted by an all-time high in Apple and gains for Tesla and Alphabet.
• Federal Reserve Chair Jerome Powell tells a European conference more rate hikes "are likely to be appropriate". He says he doesn't see inflation "getting back to 2% this year or next year" and was open to two more consecutive rate rises, if required.
• "Although policy is restrictive... it may not be restrictive enough and it has not been restrictive for long enough," he says.
• Futures pricing implies an 81.8% chance of another rate hike next month.
• Miners and defensive sectors drag. Financials also close lower. Energy, real estate and two of the three sectors associated with growth stocks rise.
• The Aussie dollar falls to a three-week low as slowing inflation suggests interest rates may not go as high as economists previously expected. The Aussie has dropped almost three US cents in less than two weeks.

Key events today:

• May retail sales - 11.30 am AEST
• Address by Federal Reserve Chair Powell - tonight
• US GDP, unemployment claims - tonight

S&P 500: down two points or 0.04%

Dow: down 74 points or 0.22%

Nasdaq: up 36 points or 0.27%

Dollar: down 1.2% to 66.03 US cents

Iron ore (Dalian): up 2.47% to US$114.64 (3-month high)

Brent crude: up US$1.77 or 2.5% to US$74.03

Gold: down US$1.60 or 0.1% to US$1,922.20 (3-month low)

NYSE Arca Gold Bugs: down 1.54%

Copper (LME): down 1.48% to US$8,239.50

Nickel (LME): down 3.89% to US$20,030

Global X Lithium & Battery Tech ETF: down 0.27%

BHP: down 1.77% (US); down 0.02% (UK)

Rio Tinto: down 2.27% (US); down 0.77% (UK)