Day trading pre-market open September 6

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

Outlook for the day: Negative after soft global economic data, surging energy prices and treasury yields push US stocks lower.

ASX futures: down 18 points or 0.25 %

Overnight themes:

• Weak global economic signals weigh on Wall Street, while rising oil prices reignite inflation fears, driving treasury yields higher.
• The major indices finish the first session of a holiday-shortened week in the red after reports from around the world point to economic slowdowns. Chinese services sector activity expands at its slowest pace in eight months. Eurozone business activity contracts at the fastest pace in almost three years. US factory orders shrink for the first time in five months.
• Brent crude settles above US$90 a barrel for the first time since November after Saudi Arabia and Russia extend production cuts until the end of the year.
• Treasury yields climb as traders bet higher energy prices will hamper the Federal Reserve's war on inflation. The yield on ten-year treasuries rallies seven points to 4.26%.
• “If you have oil prices moving up that could be inflationary. That just makes the Fed’s job harder" - Keith Lerner, co-chief investment officer at Truist Advisory Services.
• The energy sector gains 0.49%. Airlines and cruise stocks decline.
• Economically-sensitive sectors lead the retreat after the latest data. Materials drops 1.81%. Industrials gives up 1.69%.
• Iron ore suffered its first loss in five sessions.

Key events today:

• Fourth-quarter GDP - 11.30 am AEST

S&P 500: down 19 points or 0.42%

Dow: down 196 points or 0.56%

Nasdaq: down 11 points or 0.08%

Dollar: down 1.2% to 63.79 US cents

Iron ore (Dalian): down 0.6% to US$116.03

Brent crude: up US$1.04 or 1.2% to US$90.04

Gold: down US$14.50 or 0.7% to US$1,952.60

NYSE Arca Gold Bugs: down 2.22%

Copper (LME): down 0.82% to US$8,383

Nickel (LME): down 0.38% to US$20,940

Lithium carbonate (China spot): down 1.22% to US$28,280

Global X Lithium & Battery Tech ETF: up 0.79% (3-week high)

BHP: up 0.41% (US); down 0.28% (UK)

Rio Tinto: down 0.7% (US); down 0.5% (UK)