Day Trading 9 June Pre Market

Morning all
Thanks Trees and AM crew

SPI futures show a 9 point improvement this morning as materials and industrial stocks led the S&P and Nasdaq closer to 52 week highs and the Dow over 18000 points.

"Perhaps investors are hoping and seeing opportunities for revenue growth and earnings growth," said Jack Ablin, chief investment officer at BMO Private Bank. "The rationale for substantial gains from here seems kind of tenuous unless we can get a ramp up in revenue," he said.
Traders also attributed support to stocks from gains in oil prices and the weaker U.S. dollar. The U.S. dollar index hit its lowest since May 6. 1
S&P, Nasdaq +.3%

Metals were firmer across the board, including zinc, which touched a 10-month high on tightening supply.
Three-month aluminium on the London Metal Exchange closed up 2.6 per cent at $US1604 a tonne, the strongest since May 6, building on a rise of 0.7 per cent on Tuesday.
Zinc, the best-performing LME metal this year, surged 3 per cent to finish at $US2062, its highest since July 21 last year.
A report by Marex Spectron said that zinc was the biggest speculative long of the LME metals, at the highest level since early May.
Copper ended 0.2 per cent higher at $US4478 a tonne after China's May copper imports jumped 19.4 per cent year on year to 430,000 tonnes.
Nickel jumped 4.4 per cent higher. 2

Gold ended the U.S. day session solidly higher and scored a three-week high Wednesday. The precious metals were boosted by bullish outside markets that saw higher crude oil prices and a lower U.S. dollar index. In fact, most of the raw commodity futures markets were in rally mode today, which added to the upside pressure on the metals. 3
Gold $1262 +1.5%
Silver $17.00 +3%
HUI +3.5%
AUD Gold $1686

AUD .7470

Oil $51.53 +$1.17

On Today

US jobless claims (weekly), US wholesale inventories (April), US household change in net worth (1Q).


Have a good day

1 CNB
2 SMH
3 *****