Day Trading 4 Feb Pre Market

Morning all
Thanks to overnight crew

A sharp rebound in the see- sawing oil price has hauled mauled markets north overnight, erasing some of the previous nights' damage.
ASX Futures point to a 32 point firmer opening this morning at 4856

Earlier in Europe weak earnings and manufacturing data from the US weighed on sentiment.
Stoxx 50 -1.9%
FTSE -1.4%
DAX -1.5%

The US session opened weaker on this sentiment, at one point off 200 points, before the feral oil monster rallied hard, dragging Exxon, Chevron and the energy sector higher. A rise in Financial stocks also buoyed the market.
"This is an emotional, sentiment-driven market and it's likely to remain tied to oil," Michael James, managing director of equity trading at Wedbush Securities in Los Angeles, said.
Dow +1.1%
S&P +.5%
Nasdaq -.28%

Crude surged more than 7 per cent after its biggest two-day plunge in seven years. Distressed oil bulls over last week's fizzled rally are finding comfort in forecasts for a bigger and longer rebound by the end of the year. A median of 17 estimates compiled by Bloomberg this year show analysts are projecting prices will climb more than $US15 by the end of 2016. New York crude will reach $US46 a barrel during the fourth quarter, while Brent in London will trade at $US48 in the same period.
Oil $32.33 +$2.45, +8%

London copper ended up 2 per cent at $US4635 a tonne, having earlier risen to $US4648, the highest since January 5, extending gains seen since mid-January when prices hit a six-year low. "It looks like the metals market is forming a bottom, price curves have flattened, some are even backwardated," said a London-based trader. 1
Nickel +1.4%
Aluminium +1.4%
Nicker +1.2%
Zinc +2.1%

Gold prices ended the U.S. day session solidly higher and scored another three-month high Wednesday. Once again, safe-haven and chart-based buying supported the yellow metal amid a still-uneasy world marketplace. Gold bulls also have building technical momentum on their side. Silver bulls got in gear today, also, and pushed prices to a fresh three-month high. April Comex gold was last up $16.20 at $1,143.50 an ounce. March Comex silver was last up $0.456 at $14.745 an ounce.
Gold prices were just slightly higher in late-morning dealings when a weaker-than-expected U.S. ISM non-manufacturing report was released, which gave the yellow metal a boost. The weaker ISM report also helped propel the U.S. dollar index sharply lower and put downside pressure on U.S. stock indexes, which in turn fueled more buying interest in gold. The other key “outside market” on Wednesday saw crude oil prices trade solidly higher, which also benefited the precious metals markets on this day. 2
Gold $1141 +1%
HUI +10% ***
AUD Gold $1591

AUD .7169


On Today
Bank of England policy meeting.
IMF chief Christine Lagarde speaks
Earnings: ConocoPhillips, LinkedIn, News Corp, New York Times Co, Mitsubishi Heavy Industries, Credit Suisse Group,  Daimler.

Have a good day





1. SMH
2 *****