Day Trading 18MR Pre Market

Morning all
Thanks AM crew

The ASX is set to continue today with decent gains following a solid session overnight, underpinned by gains in energy and materials stocks
SPI futures are 36 points higher at 5226

The Dow Jones index climbed into the green for the first time in 2016, the session erasing all losses accrued this year.
Stronger oil prices and a positive view of the Fed's Wednesday announcements also helped stocks.
"The market expectations and the Fed are finally aligned," said JJ Kinahan, chief strategist at TD Ameritrade.
"I think the rally is probably recognition the Fed is responding to the weaker environment and they're not going to tighten as quickly," said Jack Ablin, chief investment officer at BMO Private Bank.
Still, he remained cautious on the recent rally given historically high valuations in the S&P 500. The recovery year-to-date "is just a reminder of how expensive the market is," he said. "When the market falls during earnings season it just shows fundamentals just can't support prices."
The Dow transports closed up 2.98 percent, topping its 200-day moving average for the first time since May 2015.
U.S. crude oil futures settled up 4.5 percent at $40.20 a barrel, its highest level of the year. 1
S&P +1.3%
Nasdaq + .24%

Oil surged above $US40 a barrel in New York for the first time since December as central banks from the US to Europe signalled they will continue to provide economic stimulus to support demand. "Reaching $US40 gets a lot of attention because its a nice round number," said Rob Haworth, a senior investment strategist in Seattle at US Bank Wealth Management. 2

Copper jumped to its highest in more than four months. Benchmark copper on the London Metal Exchange was up 2.7 per cent at $US5069.5 a tonne after hitting $US5074 earlier in the session, its highest since November 5. Traders said copper's break above the 200-day moving average puts the next upside target at $US5140, a 38.2 per cent Fibonacci retracement of the May 2015 to January 2016 fall. " 2

Gold $1257
HUI =1.4%
AUD Gold $1645

The AUD was strongly higher against the Greenback with UD dollar weakness at .7645

Have a good day

1 CNBC
2 SMH