Day trading pre-market open March 20

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

Outlook for the day ahead: murky! Futures point to a four-month low, but a Swiss government-backed rescue of Credit Suisse announced overnight is a wildcard.

ASX futures: down 98 points or 1.4%

FRIDAY ROUND-UP:

·Bank contagion fears batter Wall Street. SVB Financial Group (the holding company for Silicon Valley Bank) files for bankruptcy. Concerns about wider issues in the sector are exacerbated by news US banks borrowed a record US$165 billion from the Fed in a week, up from US$4.4 billion the week before.

·Leading economic index falls for 11^th straight month.

·All 11 US sectors decline. Financials fall hardest, losing 3.29 per cent.

·Gold has its best week in almost three years, closing at an 11-month high. Oil has its worst week since August, falling 11.9 per cent to a 15-month low.

OVERNIGHT:

·UBS strikes deal to buy Credit Suisse for US$3.23 billion. Deal announced by Switzerland’s president and backed by Swiss central bank. Swiss finance minister says deal is “a commercial solution not a bailout”. Purchase price is a 59% discount to Friday's close.

Key events this week:

· US rates decision – Wednesday night.

· Minutes from this month’s RBA meeting – Tuesday morning.

S&P 500: down 44 points or 1.1%

Dow: down 385 points or 1.19%

Nasdaq: down 87 points or 0.74%

Dollar: down 0.44% to 67.23 US cents

Iron ore: up 0.4% to US$132.77 (down 2.1% for week)

Brent crude: down US$1.73or 2.3% to 15-month low at US$72.97

Gold: up US$50.50 or 2.6% to 11-month high of US$1,973.50 (+5.7% for week)

NYSE Arca Gold Bugs: up 5.42% to 6-week high

Copper (LME): up 1.1% to US$8,612

Global X Lithium & Battery Tech ETF: down 1.45% to new 2-month closing low

BHP: up 0.03% (US); up0.11% (UK)

Rio Tinto: down 0.09% (US); down 0.59% (UK)