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

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


Outlook for the day: Neutral following a US market holiday, a directionless night in Europe and a mixed session on commodity markets.

ASX futures: up 4 points or 0.05%


Overnight themes:

• European stocks showed minimal change during last night's US Labor Day market holiday.
• The pan-European Stoxx 600 index finished 0.02% in the red after clawing back most of a sharper early loss. The European benchmark hit a record last week after inflation slowed to its weakest pace in three years, easing pressure on interest rates.
• At a national level, the German and French markets posted gains of up to 0.2%, while the UK and Italy shed 0.15%.
• "Everyone is taking a breather after a pretty hectic August in terms of market price action at least and really looking for signals on the macro side that the soft landing scenarios are in place and that central banks can begin to lower rates" - Richard Flax, chief investment officer of Moneyfarm (per Reuters).
• Miners dragged as commodity markets reacted to soft Chinese factory data released over the weekend. Iron ore and most industrial metals declined after a report on Saturday showed China's official manufacturing gauge fell to a six-month low last month. The CFLP Purchasing Managers' Index contracted to 49.1 from 49.4 in July. Readings below 50 indicate shrinking activity.
• Benchmark iron ore slumped 4.36% in China to US$101.65 a metric ton. On the London Metal Exchange, aluminium dropped 0.94% to a two-week low. Copper gave up 0.19% and nickel lost 0.58%.
• Oil rose amid a pause in Libyan crude exports and a reduction in production as part of a dispute between rival political factions. Libya's oil production has fallen by more than half as rival governments contest control of the nation's central bank and oil revenues. Brent crude rose 59 US cents or 0.77% to US$77.52 a barrel.
• Real estate was the night's best-performing sector in Europe, rising 1.8% as traders lifted bets on a rate cut this month. Financial markets indicate a 25 basis point cut by the European Central Bank is a near-certainty on September 12 after a survey showed eurozone manufacturing continued to contract last month.

Key events today:

• National current account - 11.30 am AEST
• US manufacturing - tonight

Stoxx 600: down 0.02%

S&P 500: closed

Dow: closed

Nasdaq: closed

Dollar: up 0.36% to 67.92 US cents

Iron ore (Dalian): down 4.36% to US$101.65

Brent crude: up 59 US cents or 0.77% to US$77.52

Gold (futures): up US$4.30 or 0.17% to US$2,531.90

Gold (spot): down US$3.25 or 0.13% to US$2,499.87

Silver: down 34 US cents or 1.17% to US$28.52

NYSE Arca Gold Bugs: no trade

Bitcoin: up 1.46% to US$59,213

Copper (LME): down 0.19% to US$9,217.50

Nickel (LME): down 0.58% to US$16,670

Lithium carbonate (China): up 0.07% to 74,650 yuan

Global X Lithium & Battery Tech ETF: down 0.13% (UK)

Uranium (spot): steady at US$79.75

BHP: down 0.96% (UK)

Rio Tinto: down 1.44% (UK)