Day trading pre-market open April 9

Morning traders. Thanks loungers, especially @Ravgnome.


Outlook for the day: Positive as a strong rebound in iron ore and gains in other commodities help offset a flat night on Wall Street.

ASX futures: up 36 points or 0.46%


Overnight themes:

• Wall Street's main stock indices finish mixed but little changed as investors sit on their hands ahead of inflation data later in the week and the start of a new corporate reporting season on Friday.
• The Dow and S&P 500 lose 0.03% and 0.04%, respectively. The Nasdaq Composite ticks up 0.03%.
• A rise in treasury yields dampens interest in stocks. The yield on 10-year US treasuries climbs four basis points to its highest since late November. Yields have rebounded in recent weeks as investors temper expectations for cuts to the benchmark rates set by the Federal Reserve. The rally in yields accelerated after stronger-than-expected employment data on Friday.
• "Wall Street is adjusting expectations to reflect the fact that the Fed could be slower to lower interest rates and that now the greatest likelihood is for a rate cut to occur at the July FOMC meeting, rather than June" - Sam Stovall, chief investment strategist of CFRA Research (per Reuters).
• Economists predict a report on Wednesday will show annual headline consumer inflation lifted in February, a negative for rate cut hopes.
• The Q1 US reporting season gets underway on Friday with trading updates from financial giants JPMorgan, Citigroup and Wells Fargo.
• Tesla jumps 4.9% after Elon Musk announces an August date to unveil for the company's "robo-taxi".
• Crypto stocks rally as Bitcoin climbs back above US$70,000 a coin.
• Real estate is the pick of the sectors, gaining 0.82%. The two sectors that matter most on the ASX - financials and materials - advance 0.39% and 0.03%, respectively. The night's biggest drags as energy -0.63%, health -0.38% and tech -0.32%.
• ASX heavyweights BHP and Rio Tinto surge in overseas trade following a strong rebound in iron ore as Chinese trade resumes after last week's two-day public holiday. Iron ore futures jump 6.15% in Singapore to a two-week high of US$104.40 a ton. In China, ore futures bounce 3.19% to US$109.42. BHP rallies 3.52% in US trade and 2.8% in London. Rio Tinto gains more than 4% in both markets.
• Gold hits a new record, settling at US$2,351 an ounce after trading as high as US$2,353.79.

Key events today:

• April consumer sentiment - 10.30 am AEST
• March business confidence - 11.30 am

S&P 500: down 2 points or 0.04%

Dow: down 11 points or 0.03%

Nasdaq: up 5 points or 0.03%

Dollar: up 0.55% to 66.06 US cents

Iron ore (Dalian): up 3.19% to US$109.42

Brent crude: down 79 US cents or 0.87% to US$90.38

Gold: up US$5.60 or 0.2% to US$2,351

NYSE Arca Gold Bugs: down 1.04%

Bitcoin: up 0.05% to US$71,704

Copper (LME): up 1.22% to US$9,443.50

Nickel (LME): up 0.2% to US$17,765

Uranium (spot price): steady at US$89.75

Lithium carbonate (China spot): up 0.65% to US$15,435

Global X Lithium & Battery Tech ETF: up 1.69%

BHP: up 3.52% (US); up 2.8% (UK)

Rio Tinto: up 4.89% (US); up 4.21% (UK)