Day Trading 22 Jan Pre Market

Morning all
Thanks AM crew

Our market is set to continue yesterdays gains as world markets climbed overnight, dragged higher with firmer oil prices and hopes for fresh stimulus in Europe.
ASX futures are 24 points higher at 4851


European shares rose on Thursday after slumping in the previous session to 15-month lows, as a hint of more stimulus from ECB president Mario Draghi helped reassure investors following a turbulent start to the year.
Turmoil in financial markets and concerns over China and other emerging markets will prompt a March review of the European Central Bank's monetary policy, Draghi said on Thursday, holding out the prospect of further loosening.
"Draghi's words have helped calm down the market," Activtrades Chief Market Analyst Carlo Alberto De Casa said, noting how Italy had outperformed after heavy losses in banking shares led European stocks to their lowest point in 15 months.
Daniel Sugarman, Market Strategist at ETX Capital, said what really "energized" European markets was the prospect of more monetary stimulus in just two months time.
DAX +1.95%
FTSE +1.9%
STOXX 50 +2%

Wall Street rallied after a hesitant start as oil prices surged towards their biggest gain this year and Draghi raised hopes of further stimulus. All 10 major S&P 500 sectors were higher, with a 3.2 per cent jump in energy stocks leading the pack. All but two Dow components were higher as well.
"What a difference a day makes!" said Stephen Wood, chief market strategist at Russell Investment Group in New York. The US stock market was bound for a correction as rich valuations were becoming a headwind, Wood said, adding that the main drivers of the market remained unchanged. "We've got the same three horsemen: oil, China and the US Federal Reserve driving the markets."
Apple is pushing back against an European tax investigation that could force the iPhone maker to pay more than $US8 billion in back taxes. CEO Tim Cook met with the European Commission's antitrust chief Margrethe Vestager in Brussels on Thursday to press the company's case.
S&P + .7%
Nasdaq + .2%

Oil futures rose as much as 6.7 per cent in New York. US supplies climbed 3.98 million barrels last week, the Energy Information Administration said Thursday. The American Petroleum Institute reported a 4.6 million barrel gain Wednesday.
"Oil is searching for a bottom," said Rob Thummel, a managing director and portfolio manager at Tortoise Capital Advisors LLC who helps manage $US13.5 billion. "I can't tell you if we've found it, but it seems that a lot of people are testing after the report. The numbers were broadly in line with expectations and there's no increase in the bad news."
Oil $29.78 + $1.43

Copper and other base metals rebounded. "Some of the late shorts were getting cold feet and others were taking profits. I think this rally could extend," said a trader, referring to investors who had only recently placed bets that prices would fall. Three-month copper on the London Metal Exchange closed up 1.6 per cent at $US4430 a tonne.

Gold ended the U.S. day session moderately lower Thursday, on a downside technical correction and some mild profit-taking pressure following recent gains. A bounce in the U.S. stock market today also limited buying interest in the safe-haven precious metal.
Gold $1101
AUD Gold $1571
HUI + 1%

AUD .7013

On Today


US sales previously owned homes December
US Market prelim January manufacturing index,
US leading economic indicators December.
Weekly Baker Hughes oil rig count.
Earnings: GE

Have a good day