Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Outlook for the day: Negative ahead of this afternoon's RBA interest rate decision.
ASX futures: down 41 points or 0.57%
Overnight themes:
- US stocks retreat during a low-news session after hitting multi-month highs on Friday. The S&P 500 touches a new nine-month peak before easing in afternoon trade.
- Apple unveils a new virtual reality headset. The share price hits an intraday record before fading 0.76%. Intel and Tesla also weigh.
- “It’s a very lackluster news day, which isn’t a bad thing as we consolidate some of those big recent gains we’ve had” - Ryan Detrick, chief market strategist at the Carson Group.
- Defensive sectors rise. Communication services, utilities, health and consumer discretionary make gains. Industrials, energy and financials lead the selling.
- Oil rallies but finishes well off its intraday peak after Saudi Arabia announces production cuts.
Key events today:
- Interest rate decision - 2.30 pm AEST
S&P 500: down nine points or 0.2%
Dow: down 200 points or 0.59%
Nasdaq: down 11 points or 0.09%
Dollar: up 0.31% to 66.17 US cents
Iron ore (Dalian): up 2.2% to US$106.68
Brent crude: up 58 US cents or 0.8% to US$76.71
Gold: up US$4.70 or 0.2% to US$1,974.30
NYSE Arca Gold Bugs: up 0.13%
Copper (LME): up 1.11% to US$8,328.50
Nickel (LME): down 0.93% to US$20,815
Global X Lithium & Battery Tech ETF: down 0.62%
BHP: down 1.45% (US); down 0.34% (UK)
Rio Tinto: down 0.4% (US); down 0.3% (UK)
