Day trading pre-market open November 28

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


Outlook for the day: The ASX looks set to claw back a fraction of yesterday's 53-point loss despite modest falls on Wall Street.

ASX futures: up six points or 0.09%


Overnight themes:

• Wall Street's four-week winning streak stutters ahead of economic data as traders assess Black Friday spending and its implications for the economy and interest rates.
• The major indices slip despite a 7.5% lift in Black Friday e-commerce spending to a record US$9.8 billion. E-tailers Amazon and Shopify rally. The S&P 500 retail index gains 0.32%.
• Stocks struggle amid speculation that strong retail spending may force the Federal Reserve to keep interest rates "higher for longer" to tame inflation.
• Home sales decline more than expected. Reports later this week on consumer confidence (tonight) and inflation (Thursday) are expected to impact the Federal Reserve's thinking on rates.
• The major indices were coming off a four-week run that brought three-month highs for all and lifted the S&P 500 out of a technical correction.
• Real estate and consumer discretionary are the cream of the sectors. Tech and utilities also inch higher. Health, industrials and communication services log the heaviest falls, ranging from 0.48 - 0.64%.
• The Australian dollar trades above 66 US cents for the first time since August ahead of inflation data tomorrow that could foreshadow another rate hike.
• Gold touches its highest since May as the US dollar index tests three-month lows. Silver rises 1.4% to a level last seen in late August.
• Jitters ahead of an OPEC+ meeting later this week help drag Brent crude back below US$80 a barrel. Oil futures have struggled since the oil cartel announced it was delaying a group meeting, reportedly to ensure all players were on-board with extending production caps.
• Iron ore shrugs off reports that China's state planner carried out a survey of price indices of markets including ore, steel and lithium to ensure markets were stable and healthy. China ore prices gain 0.36%.

Key events today:

• October retail sales report - 11.30 am AEDT
• RBA Governor Bullock participates in a panel discussion about inflation and financial stability - 12.18 pm
• US consumer confidence - tonight

S&P 500: down 9 points or 0.2%

Dow: down 57 points or 0.16%

Nasdaq: down 10 points or 0.07%

Dollar: up 0.38% to 66.06 US cents

Iron ore (Dalian): up 0.36% to US$137.49

Brent crude: down 60 US cents or 0.74% to US$79.98

Gold: up US$9.40 or 0.5% to US$2,012.40

NYSE Arca Gold Bugs: up 1.85%

Bitcoin: down 1.37% to US$36,908

Copper (LME): down 0.63% to US$8,375

Nickel (LME): down 0.62% to US$16,025

Uranium: steady at US$81.50

Lithium carbonate (China spot): down 1.81% to US$18,943

Global X Lithium & Battery Tech ETF: down 2.36%

BHP: down 1.13% (US); down 0.96% (UK)

Rio Tinto: down 0.97% (US); down 0.44% (UK)