Day trading pre-market open April 30

Morning traders. Thanks loungers, especially @Ravgnome.


Outlook for the day: Modestly positive after US stocks shake off a late wobble.

ASX futures: up 12 points or 0.16%


Overnight themes:

• US stocks book solid gains at the start of a busy week that brings corporate earnings, economic data and an interest rate decision.
• The major benchmarks shake off a final-hour dip to finish with gains of 0.32% - 0.38%.
• Green metal miners rally almost 5% after Tesla makes progress in expanding autonomous driving in China. The electric car-maker clears data-security restrictions with support from a major Chinese automobile association and gains a mapping licence. Tesla shares surge 15.31%. The Global X Lithium and Battery Tech ETF pops 4.93% as Arcadium Lithium gains 16.49%, Piedmont Lithium 8.55% and Albemarle 7.57%.
• Apple puts on 2.48% following a broker upgrade and reports that the phone-maker has resumed discussions about incorporating OpenAI's tech. Domino's Pizza gains 5.62% after topping sales expectations. Amazon reports tonight. Apple follows later this week.
• Nine of eleven sectors advance, led by consumer discretionary +2.03%, utilities +1.39% and real estate +1.08%. The materials sector puts on 0.84%. The night's only drags are financials -0.19% and communication services -2.06%.
• The Federal Reserve commences a two-day meeting tonight that concludes with a policy statement, press conference and rates announcement tomorrow night. Futures pricing indicates the market now expects just 35 basis points of rate cuts this year, down from 150 points at the start of the year.
• "The bigger question than rates, because they're not going to cut this week, is how hawkish they're going to speak because they've already been pretty hawkish" - Thomas Hayes, chairman at hedge fund Great Hill Capital (per Reuters).
• Copper hits a fresh two-year high as BHP's offer for Anglo American underlines the global scramble to secure supply. Benchmark copper rallies almost 2% in London to US$10,162 a metric ton.
• Iron ore retreats ahead of a three-day public holiday in China starting tomorrow. Benchmark ore on the Dalian Commodity Exchange eases 0.51% with buying interest dampened by soft industrial data. A report on the weekend showed Chinese industrial profits declined last month, raising doubts about economic momentum.
• The Q3 Australian reporting season wraps up today with updates from Coles, IGO, Ampol, Origin Energy, Sandfire Resources, Resolute Mining, Syrah Resources and Liontown Resources, as well as a host of market minnows.

Key events today:

• Retail sales - 11.30 am AEST
• Private-sector credit - 11.30 am
• China manufacturing/non-manufacturing PMIs - 11.30 am
• Caixin China manufacturing PMI - 11.45 am
• US employment cost index - tonight
• US consumer confidence - tonight

S&P 500: up 16 points or 0.32%

Dow: up 146 points or 0.38%

Nasdaq: up 55 points or 0.35%

Dollar: up 0.35% to 65.64 US cents

Iron ore (Dalian): down 0.51% to US$120.69

Brent crude: down US$1.10 or 1.2% to US$88.40

Gold: up US$10.50 or 0.4% to US$2,357.70

NYSE Arca Gold Bugs: up 0.68%

Bitcoin: down 0.01% to US$62,947

Copper (LME): up 1.97% to US$10,162

Nickel (LME): down 0.23% to US$19,205

Uranium (spot price): up 0.56% to US$90

Lithium carbonate (China spot): down 0.22% to US$15,308

Global X Lithium & Battery Tech ETF: up 4.93%

BHP: up 0.67% (US); unchanged (UK)

Rio Tinto: up 1.13% (US); up 0.07% (UK)