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21/05/24

08:45

Post #: 73926352
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Originally posted by highlandlad: ↑

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)

Expand

getting wood today a couple im looking at ARU needs to break 0.215 imo LM8 broke out pulled back needs volume worth a look imo 29M needs to break resistance couple of days of increasing volume a series of higher lows like this chart
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