Day trading pre-market open May 1

Morning traders. May Day! Thanks weekend loungers, especially @Ravgnome and @Patterns.

Outlook for the day: Positive following US gains and as a new month gets underway.

ASX futures: up 54 points or 0.74%

Friday themes:

· US stocks rally as mostly positive earnings from Big Tech offset banking worries and a downbeat outlook from Amazon.

· Intel and Exxon Mobil rise after trading updates. A record first quarter lifts Exxon to an all-time high. Amazon sinks after warning of a slowdown in its cloud computing business.

· "This week's earnings overall were better than people expected. There was a lot of pessimism going in but the past week has brought home the fact that it's not turning into a bad earnings season at all" - Peter Tuz, president of Chase Investment Counsel.

· Regional bank First Republic tumbles in regular and after-market trade following reports of looming receivership. A government-led rescue continued over the weekend, with bids reported from several larger institutions, including JPMorgan.

· Wider financial sector rallies, along with energy producers, tech and REITs. Defensive utilities dip 0.2%.

Key events this week:

· Monthly job ads - 11.30 am AEDT today

· Interest rate decision - Tuesday

· Retail sales - Wednesday

· US interest rate decision - Wednesday

· US monthly job report

S&P 500: up 34 points or 0.83%

Dow: up 272 points or 0.8%

Nasdaq: up 84 points or 0.69%

Dollar: down 0.02% to 66.13 US cents

Iron ore (Dalian): down 0.97% to US$103.12

Brent crude: up US$1.17 or 1.5% to US$79.54

Gold: up 10 US cents or 0.01% to US$1,999.10

NYSE Arca Gold Bugs: down 0.72%

Copper (LME): up 0.1% to US$8,595.50

Nickel (LME): up 0.58% to US$24,285

Global X Lithium & Battery Tech ETF: down 0.17%

BHP: down 0.03% (US); down 0.62% (UK)

Rio Tinto: up 0.46% (US); up 0.1% (UK)