Australia's largest stock trading and investment forum Australia's #1 stock forum

Day trading pre-market open September 14, page-11

First 11 Last

Share
Profile

Follow
64eheh

8,611 Posts.

424

14/09/23

08:00

Post #: 69850673
Share
Originally posted by highlandlad: ↑

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

Outlook for the day: Mildly negative ahead of August jobs data following a mixed finish on Wall Street as investors weighed an inflation report that had something for bulls and bears.

ASX futures: down five points or 0.07%

Overnight themes:
Wall Street's main indices finish mixed after an uptick in inflation increases the odds on another hike in November.
A mixed August inflation report includes the biggest jump in headline inflation in 14 months. The consumer price index pops 0.6% for the month. Fuel prices account for more than half the increase. Year-on-year price inflation rises to 3.7% from 3.2% in July.
However, the Federal Reserve's preferred measure, annual core inflation, eases to 4.2% from 4.7% in July, giving the central bank room to leave rates unchanged this month.
A September rates pause remains a near-certainty at 97% following the report, according to CME's FedWatch tool. The odds on a November hike rise to 61%.
“This isn’t the goldilocks number that investors were hoping for, but markets can still trade in a range — as inflation is high enough to keep the Fed still in play, but not hot enough for a shift away from the ‘Fed is almost done’ narrative” - Chris Zaccarelli, chief investment officer at Independent Advisor Alliance.
Growth sectors rally, boosted by Tesla, Meta, Microsoft and Amazon. Utilities is the pick of the sectors, implying a mild defensive bias among investors. Real estate, energy, industrials, materials and financials all decline.
Gold eases to a fresh three-week low as US inflation data pushes out hopes for rate cuts.
"As long as hopes for Fed rate cuts are kept at bay, bullion bulls should struggle to carve out meaningful gains for the precious metal” - Han Tan, chief market analyst at Exinity.
Oil retreats on fears that higher US interest rates will constrain energy demand.
Iron ore is boosted by restocking ahead of Chinese holidays at the end of the month. Most base metals reverse some of Tuesday night's losses.

Key events today:
August employment report (expected: +25,400 jobs, jobless rate steady at 3.7%) - 11.30 am AEST
US retail sales, wholesale inflation - tonight
Eurozone interest rate decision

S&P 500: up six points or 0.12%

Dow: down 70 points or 0.2%

Nasdaq: up 40 points or 0.29%

Dollar: down 0.07% to 64.23 US cents

Iron ore (Dalian): up 0.47% to US$118.13

Brent crude: down 18 US cents or 0.2% to US$91.88

Gold: down US$2.60 or 0.1% to US$1,932.50

NYSE Arca Gold Bugs: unchanged

Copper (LME): up 0.04% to US$8,394

Nickel (LME): up 1.43% to US$20,150

Lithium carbonate (China spot): down 1.05% to US$26,289

Global X Lithium & Battery Tech ETF: down 0.88%

BHP: down 0.58% (US); down 0.46% (UK)

Rio Tinto: down 0.13% (US); down 0.34% (UK)

Expand

URA up a whopping 3% last night. URNM probably the same.

Uranium stocks all on fire. AGE, BMN, DYL, PDN, EL8................and others.

why day trade when u can just ride rockets to the moon..........................

. .
11 Upvote

Reply

Top Stories

Week 27 Wrap: ASX hits all time high; CBA shares' two realities; US inflation hits 3% ahead of China plenum

SKS

SKS Technologies wins US$90M award to supply power to international hyperscale data centre in Melbourne

ASX hits all time high out the gate on Friday trades following bullish US inflation data

BHP

BHP dips as WA nickel suspended after A$6B hit; losses eased by US CPI and forewarning

AII

Almonty locks in govt agreement for tungsten oxide plant in South Korea

NIM

Nimy to raise $1.21M to explore 'newsy' WA targets

I88

Infini soars 50% as company reveals it could’ve just made uranium history – redefining what it means to be “high grade”

MDI

Nanocap Middle Island Resources kicks off Barkly copper-gold drill run – a potential IOCG-style NT project

Bitcoin investors need to know the risks

IMM

Immutep reports strong response rate from immunotherapies treating carcinomas

There are more pages in this discussion • 49 more messages in this thread...

First 11 Last