Day Trading 29 Jan Pre Market

Good morning
Thanks to Lioness and her mates

The ASX looks to open mildly firmer today after a surge in Facebook shares led US stocks higher overnight, supported by firmer energy prices.
SPI Futures are 14 points higher ay 4929

Earlier, European shares were awash in red as disappointing earnings from Roche  weighed on the healthcare sector. Euro zone banks also came under pressure.
STOXX 50 -2.1%
DAX -2.6%
FTSE -1%

In the US, stocks rallied early as crude oil futures leapt more than 7% following unconfirmed reports that Russia and OPEC may cut output. However a news report then said OPEC officials denied plans for a meeting with Russia over potential output cuts, the gains largely evaporated.
The heightened volatility in the equity market reflects that “there are a lot of variables in play and different investors tease out the data that will support their thesis,” said Dan Farley, an investment strategist at U.S. Bank Wealth Management. 1
Facebook surged 16.5 percent and was on track for its biggest one-day leap since 2013 after the digital advertising behemoth smashed expectations with a 52-percent jump in fourth quarter revenue.
The S&P tech sector jumped 1.6 percent.
The S&P energy sector .SPNY rallied 2.6 percent, buoyed by a rise of almost 3 percent in oil prices due to speculation that Saudi Arabia and other OPEC countries would cut output to boost prices. 2
However these gains could be short-lived and the recent selloff caused by weak oil prices and worries about China's economy may not be exhausted.
"The market was overdue for a bounce. Perhaps we're getting that now," said Chuck Carlson, chief executive officer at Horizon Investment Services in Hammond, Indiana. "I'd love to say we're onward and upward from here but I don't think things work that way." 2
DOW +.75%
S&P +1.1%
Nasdaq +8%

Oil prices were roughly 3 percent higher on Thursday after the Russian energy minister said Saudi Arabia had proposed that oil-producing countries trim output.
Prices pared gains amid growing doubts over the deal to cut production by up to 5 percent after media reports said that delegates from OPEC had not yet heard of any plans for talks and that Saudi Arabia had not proposed cuts.
Crude had jumped as much as 8 percent after Russian Energy Minister Alexander Novak revealed the proposed reductions in output, which would amount to about 500,000 barrels a day of cuts by Russia, one of the largest producers outside OPEC. 2
Oil $33.73 + $1.43

Copper - 1.66%
Nickel - .91%
Aluminium -93%
Zinc -2.3%

February gold futures prices closed nearer the session low on some consolidation after hitting a three-month high on Wednesday. While the gold bears still have the overall near-term technical advantage, prices are in a choppy five-week-old uptrend and the bulls have technical momentum on their side. 3
Gold $1115
HUI - 1.2%
AUD Gold $1573

AUD .7081

On today
Australia producer prices.
Bank of Japan policy statement

1. Marketwatch
2. Reuters
3. *****