Day trading pre-market open September 22

Originally posted by highlandlad ↑

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

Just short everything

Outlook for the day: Ugly. Futures action suggests the ASX 200 will open below 7000 for the first time since March.

ASX futures: down 97 points or 1.36%

Overnight themes:

US stocks close at their lowest since June as treasury yields surge in response to Wednesday's "higher rates for longer" message from the Federal Reserve.

The 10-year treasury yield trades at its highest in 16 years in the wake of the Fed's warning that rates may rise before the end of the year and stay there for much of next year. The two-year yield touches a level last seen in 2006.

Wall Street's main share indices all shed more than 1%. Rate-sensitive megacap stocks lead the retreat.

The S&P 500 takes its biggest hit since March, closing at a level last seen in June.

“The Fed thinks they can have a smooth landing, but if you raise rates and keep them at a hefty level for a sustained period of time, and oil prices move against you, how long can the consumer last?” - Peter Cardillo, chief market economist at Spartan Capital Securities.

Economic data suggest the Fed has more work to do to cool the economy. First-time claims for unemployment benefits are the lowest in eight months.

The real estate sector plunges 3.48%. Consumer discretionary sheds 2.88%, materials 2.05% and industrials and financials 1.6%. Health is the best of a bad bunch with a loss of 0.92%.

Just two of the Dow's 30 component companies resist the selling: UnitedHealth +1.83% and Disney +0.21%.

On the Nasdaq, Atlassian sheds 5.41%, Amazon 4.41% and Nvidia 2.89%.

Gold suffers its biggest fall in almost two months, logging its first decline in six sessions. Oil retreats for a third session.

Key events today:

Flash manufacturing/services PMIs - 9 am AEST

Europe/US manufacturing services PMIs - tonight

S&P 500: down 72 points or 1.64%

Dow: down 370 points or 1.08%

Nasdaq: down 245 points or 1.82%

Dollar: down 0.28% to 64.16 US cents

Iron ore (Dalian): down 0.4% to US$118.77

Brent crude: down 23 US cents or 0.3% to US$93.30

Gold: down US$27.50 or 0.4% to US$1,939.60

NYSE Arca Gold Bugs: down 2.19%

Copper (LME): down 1.44% to US$8,225

Nickel (LME): down 1.99% to US$19,165

Lithium carbonate (China spot): down 1.7% to US$24,188

Global X Lithium & Battery Tech ETF: down 2.91% (3-year low)

BHP: down 3.13% (US); down 3.27% (UK)

Rio Tinto: down 2.72% (US); down 2.73% (UK)

Expand

Just short everything

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Day trading pre-market open September 22, page-2

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Climate change to drive market trends to the moon

Fast-track assaying yields 182 g/t gold for iTech at new NT play

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

KGL sniffs 19% Cu from drilling at Rockface play in NT

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Featured News

Featured News

Day trading pre-market open September 22, page-2

Top Stories

Tivan and EARTH AI gear up to commence fresh drilling at Sandover lead-silver project, NT

Leo Lithium announces major divestment of flagship Goulamina project to Ganfeng

Week 27 Wrap: "Election year" is here as UK Labour win contrasts France; Trump wins immunity & annual report season hushes ASX

Climate change to drive market trends to the moon

Fast-track assaying yields 182 g/t gold for iTech at new NT play

The Big Deal: Free-to-air TV swings the axe, but will it be enough as enormous sports deal bills loom?

KGL sniffs 19% Cu from drilling at Rockface play in NT

Red Hill Minerals Signs $6.5 Million Agreement with Peel Mining to Explore Curnamona Project, NSW

Saturn’s stars have aligned for the gold explorer’s Apollo Project

Has uranium run out of steam? An update on nuclear markets & developments ahead in FY25

Featured News

Featured News