Morning traders. Thanks weekend loungers, especially @Ravgnome...

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




Outlook for the day: Negative following a sharp end-of-week sell-off on Wall Street and a mixed session for commodity prices.

ASX futures: down 41 points or 0.56%


Friday themes:

• A volatile week on Wall Street ends with a sharp sell-off ahead of Wednesday's Federal Reserve interest rate decision.
• Rate-sensitive growth stocks sink as treasury yields rise. Amazon, Microsoft and Meta are among the major drags.
• Chip equipment-makers are belted following reports of a Taiwanese contract chipmaker asking suppliers to delay component deliveries. Nvidia slumps 3.7% on doubts about consumer demand.
• A strike at US car giants adds to market concerns. The United Auto Workers' Union announces simultaneous strikes at Ford, GM and Chrysler.
• All 11 sectors decline. Falls range from 0.49% (utilities) to 1.95% (tech).
• The major indices finished mixed for the week. The S&P 500 and Nasdaq log second straight weekly declines with falls of 0.16% and 0.39%, respectively. The Dow clings on to a rise of 0.12%.
• Iron ore ends its best week in three months at a six-month peak in Singapore. Dalian ore regains US$120 a ton. The advances follow further stimulus measures in China, where the central bank reduced the amount of cash that banks have to hold in reserve.
• A deficit forecast helps oil log a third straight weekly advance. Brent crude closes at its highest since November after advancing 3.6% last week.
• A pullback in the US dollar helps gold eke out a 0.2% gain for the week. The greenback eased off a six-month high on Friday.

Key events this week:

• Minutes from this month's RBA rates meeting - Tuesday
• China loan rates decision - Wednesday
• US interest rate decision - Wednesday
• Flash manufacturing/services PMIs - Friday
• US manufacturing/services PMIs - Friday

S&P 500: down 55 points or 1.22%

Dow: down 289 points or 0.83%

Nasdaq: down 218 points or 1.56%

Dollar: up 0.25% to 64.44 US cents

Iron ore (Dalian): up 2.3% to US$120.91

Brent crude: up 23 US cents or 0.3% to US$93.93

Gold: up US$13.40 or 0.7% to US$1,946.20

NYSE Arca Gold Bugs: up 2.09%

Copper (LME): down 0.1% to US$8,409

Nickel (LME): down 1.53% to US$19,920

Lithium carbonate (China spot): down 1.59% to US$25,841

Global X Lithium & Battery Tech ETF: down 0.5%

BHP: up 0.09% (US); up 0.89% (UK)

Rio Tinto: down 0.27% (US); up 1.3% (UK)