ASX to slip, commodities retreat, S&P 500 edges higher

Pinned post - 7.22AM Australian shares are poised to open lower. US stocks closed modestly higher, recovering from early losses, as the latest jobs data, known as JOLTS, provided further evidence that the economy is losing momentum and keeping the door open to a pivot to rate cuts. For local investors however the focus may be on the drop in iron ore, oil and gold. Iron ore slid below $US108 a tonne in Sinapore. While there was no specific news, Bloomberg reported that commodities giant Cargill has ceased its steel trading business in mainland China, after years of struggling with…