Morning traders. Sorry this is a bit late. Took a tumble on a run this morning. I'm bleeding all over the keyboard, lol.
Thanks loungers, especially @Ravgnome.
Outlook for the day: Negative after Wall Street closes mixed amid concerns about opposition to a propose debt limit deal.
ASX futures: down 34 points or 0.47%
Overnight themes:
- US stocks finish mixed as investors weigh the prospects for a deal to raise the debt ceiling passing through Congress. Right-wing Republicans voice objections to parts of the proposed deal.
- Congress is expected to vote on the bill as early as tonight.
- "I would not be surprised if the first vote results in failure and they have to go back again. But I firmly believe a debt ceiling agreement will be approved before the June 5 drop dead date" - Sam Stovall, chief investment strategist at CFRA.
- The Nasdaq is boosted by an on-going rally in Nvidia. The chip-maker hits an all-time high on hopes for demand for AI chips.
- Only three US sectors advance: tech, real estate and consumer discretionary.
- More than half the Dow's component companies decline. Healthcare providers are the biggest drag. Intel and Apple rise.
Key events today:
- April inflation data - 11.30 am AEST
- Also quarterly construction work, monthly private-sector credit, China manufacturing/non-manufacturing PMIs - 11.30 am
- US job openings - tonight
S&P 500: unchanged
Dow: down 51 points or 0.15%
Nasdaq: up 42 points or 0.32%
Dollar: down 0.16% to 65.18 US cents
Iron ore (Dalian): down 0.28% to US$102.36
Brent crude: US$3.53 or 4.59% to US$73.54
Gold: up US$14 or 0.7% to US$1,977.10
NYSE Arca Gold Bugs: down 1.08%
Copper (LME): down 0.25% to US$8,115
Nickel (LME): down 0.17% to US$21,000
Global X Lithium & Battery Tech ETF: down 0.63%
BHP: down 1.5% (US); down 1.66% (UK)
Rio Tinto: down 1.51% (US); down 1.74% (UK)
