Outlook for the day: Mildly negative following a mixed close on Wall Street and pressure on commodity prices from a surging greenback.
ASX futures: down 13 points or 0.18%
Overnight themes:
Wall Street's main indices close mixed amid rallies in treasury yields, the US dollar and energy prices. The Dow gives up early gains. The S&P 500 and Nasdaq cling to narrow advances.
Stocks open higher after an unexpected increase in orders for long-lasting goods last month soothed worries about an economic slowdown.
The rally quickly unwinds as treasury yields test fresh 16-year highs. The 10-year yield cracks 4.6% for the first time since 2007.
The VIX or volatility index climbs to its highest in four months. The S&P 500's 14-day relative strength index falls to its weakest this year.
The federal government lurches closer to a partial shutdown this weekend after House Republicans reject a stop-gap funding bill making its way through the Senate.
Rising energy prices sharpen fears that the Federal Reserve will have to raise rates to quash inflation. The energy sector soars 2.51% as oil prices scale fresh multi-month highs. Brent crude rises to its highest since November after a decline in US crude stockpiles exacerbates supply worries. US oil jumps 3.6%, its biggest single-day percentage rise since May, after supplies at the US's main delivery hub drop towards a level last seen in 2014.
Also trading higher are industrials and tech. Rate-sensitive utilities is the worst sector for a second night, shedding 1.93%. Next-worst are real estate (-0.82%), consumer staples (-0.77%) and health (-0.49%).
Gold slumps to a six-month low under US$1,900 an ounce as the US dollar trades at its highest in 10 months and bond yields hover near 16-year highs. The NYSE Arca Gold Bugs index of miners falls to a 10-month low.
Key events today:
Retail sales - 11.30 am AEST
US final GDP, jobless claims - tonight
Speech by US Federal Reserve Chair Jerome Powell - tonight
S&P 500: up 1 point or 0.02%
Dow: down 69 points or 0.2%
Nasdaq: up 29 points or 0.22%
Dollar: down 0.53% to 63.59 US cents
Iron ore (Dalian): up 0.59% to US$115.80
Brent crude: up US$2.59 or 2.8% to US$96.55
Gold: down US$28.90 or 1.5% to US$1,890.90
NYSE Arca Gold Bugs: down 3.27% (10-month low)
Copper (LME): down 0.14% to US$8,080
Nickel (LME): up 0.85% to US$19,050
Lithium carbonate (China spot): down 0.59% to US$23,565
