Day trading pre-market open September 20

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




Outlook for the day: Negative for a third session after Wall Street continued to reduce risk ahead of tonight's Federal Reserve interest rate decision.

ASX futures: down 16 points or 0.22%


Overnight themes:

• US stocks retreat during a risk-off session amid uncertainty about the interest rate outlook leading into tonight's Federal Reserve policy announcement.
• While the central bank is widely expected to leave benchmark rates unchanged, investors are wary that the Fed's quarterly economic outlook will signal rates may still go higher and stay there for longer than the market projects. The market is currently pricing in rate cuts next year.
• “We know that we’re closer to the end of the hiking cycle than the beginning. How they’re viewing the next year out, or at least turning the corner in 2024, is much more important” - Kevin Gordon, senior investment strategist at Charles Schwab.
• Hopes of a soft landing for the economy are dented by the lowest number of housing starts in three years. Overall housing starts sink 11.3% in August as higher interest rates depress demand.
• The energy sector falls 0.83% as oil pulls back from its highest level since November.
• Nine of eleven sectors retreat. Health and communication services inch up 0.1%.
• Oil hits a new 2023 high before fading to its first loss in four sessions. Brent crude closes at US$94.34 after trading as high as US$95.96.
• Nickel regains the US$20,000 level after leading producer Indonesia says it will not sign off on any new mining quotas this year while it works on a new application system and investigates illegal mining.

Key events today:

• New China loan rates - 11.15 am AEST
• US interest rate decision, press conference, outlook - tonight

S&P 500: down 10 points or 0.22%

Dow: down 107 points or 0.31%

Nasdaq: down 32 points or 0.23%

Dollar: up 0.24% to 64.55 US cents

Iron ore (Dalian): down 0.69% to US$118.19

Brent crude: down 9 US cents or 0.1% to US$94.34

Gold: up 30 US cents or 0.1% to US$1,953.70

NYSE Arca Gold Bugs: down 2.06%

Copper (LME): down 0.6% to US$8,309.50

Nickel (LME): up 0.55% to US$20,000

Lithium carbonate (China spot): down 1.64% to US$25,093

Global X Lithium & Battery Tech ETF: down 1.09%

BHP: down 0.7% (US); down 0.89% (UK)

Rio Tinto: up 0.21% (US); down 0.17% (UK)