Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.
Outlook for the day: Mildly negative following a mixed close in the US.
ASX futures: down eight points or 0.11%
Overnight themes:
- Wall Street's main indices end mixed but little changed ahead of inflation reports this week that could determine whether interest rates go on hold.
- The mixed finish follows strong gains on Friday as solid jobs data and strong earnings from Apple soothed recession fears.
- "Whenever you have a big up day, people need more good news to keep the market up every day in a row" - Anson Funds portfolio manager Moez Kassam.
- Inflation reports due on Wednesday night (Consumer Price Index) and Thursday (Producer Price Index).
- Regional banks ease following their biggest rally in seven weeks on Friday.
- Iron ore bounces 5% in China with buyers reportedly anticipating fresh government stimulus measures following soft factory and services sector data.
Key events today:
- Consumer sentiment - 10.30 am AEST
- Retail sales - 11.30 am
- Federal budget - 7.30 pm
S&P 500: up two points or 0.05%
Dow: down 56 points or 0.17%
Nasdaq: up 22 points or 0.18%
Dollar: up 0.51% to 67.81 US cents
Iron ore (Dalian): up 5% to US$104.33
Brent crude: up US$1.71 or 2.27% to US$77.01
Gold: up US$8.40 to US$2,033.20
NYSE Arca Gold Bugs: down 0.36%
Copper: London Metal Exchange closed for public holiday. Shanghai up 1.3% to US$9,77.50
Nickel: London Metal Exchange closed for public holiday. Shanghai up 1% to US$26,782.30
Global X Lithium & Battery Tech ETF: up 0.41%
BHP: up 0.13% (US); up 3.98% (UK)
Rio Tinto: up 0.31% (US); up 2.51% (UK)
