Day trading pre-market open May 21

Morning traders. Thanks loungers, especially @Ravgnome.


Outlook for the day: Mildly negative as a mixed close on Wall Street offsets further gains in commodity prices.

ASX futures: down 9 points or 0.11%


Overnight themes:

• US stocks finished mixed as a tech rally was offset by down-pressure from financials, property and consumer stocks.
• Gains in chip-makers helped the Nasdaq Composite rise 0.65% to a new high. Broker upgrades helped megacap Nvidia advance 2.49% ahead of tomorrow night's trading update.
• A 4.5% slump in JPMorgan Chase contributed to a 0.49% retreat for the Dow from Friday's record close. Two-thirds of the average's 30 companies declined.
• The S&P 500 closed barely changed, ahead 0.04% despite more sectors falling than advanced. The tech sector tacked on 1.32%, communication services 0.34%, industrials 0.17% and materials 0.15%. Financials was the worst of the drags, losing 1.21%.
• JPMorgan Chase dropped after popular CEO Jamie Dimon hinted he may be nearing retirement and said the bank would not buy back its shares at current price levels.
• Copper hit all-time highs in London and Shanghai, fuelled by lower-than-expected production this year, Chinese property stimulus measures and improved Chinese factory output. Three-month copper traded as high as US$11,104.50 a ton on the London Metal Exchange before paring its advance to 2.97% at US$10,985. Benchmark prices on Shanghai rallied as much as 6.8% before logging a gain of 5%.
• Nickel rallied 1.64% to US$21,445 a ton amid speculation about lower supply following civil unrest in New Caledonia, the world's third largest producer.
• Gold logged a new high, touching US$2,454.20 an ounce before settling at US$2,438.50 an ounce. Prices have risen 14% since March. Silver reached its highest point in 11 years.
• Oil markets shrugged off the death of Iran's president and foreign minister in a helicopter crash. Brent crude settled 0.3% lower at US$83.71 a barrel after trading as high as $84.49 when the news first broke.
• Iron ore reached a three-month high, gaining 1.1% in China as Beijing ramped up efforts to steady the nation's floundering real estate market.

Key events today:

• Consumer sentiment - 10.30 am AEST
• Minutes from this month's RBA rates meeting - 11.30 am

S&P 500: up 2 points or 0.04%

Dow: down 197 points or 0.49%

Nasdaq: up 109 points or 0.65%

Dollar: down 0.44% to 66.7 US cents

Iron ore (Dalian): up 1.1% to US$123.72

Brent crude: down 27 US cents or 0.32% to US$83.71

Natural gas: up 4.22% to US$2,7369

Gold: up US$21.10 or 0.87% to US$2,438.50

Silver: up 32.4 US cents or 1.03% to US$31.817

NYSE Arca Gold Bugs: up 1.32%

Bitcoin: up 5.08% to US$69,514

Copper (LME): up 2.97% to US$10,985

Nickel (LME): up 1.64% to US$21,445

Uranium (spot price): up 0.14% to US$91.75

Lithium carbonate (China spot): down 0.13% to US$14,801

Global X Lithium & Battery Tech ETF: down 0.35%

BHP: up 0.18% (US); up 1.5% (UK)

Rio Tinto: down 0.3% (US); up 0.17% (UK)