Day trading pre-market open February 15

Morning traders. Thanks loungers, especially @Ravgnome.


Outlook for the day: Positive after Wall Street bounces back from one of its biggest falls in nearly a year.

ASX futures: up 52 points or 0.69%


Overnight themes:

• US stocks claw back some of Tuesday's heavy losses as inflation tremors subside and treasury yields retreat. The Dow rebounds 0.4% from its worst session since last March.
• The Nasdaq gains 1.3% as market-leading megacaps lead the recovery. The S&P 500 advances 0.96%.
• Chipmaker Nvidia briefly surpasses Alphabet as the US's third largest company by market cap. Microsoft, Meta Platforms, Tesla and Amazon also advance. Apple is the only one of the 'Magnificent 7' to sit out the rally, easing for a third session.
• Market sentiment is boosted by positive trading updates from rideshare apps Lyft and Uber. A share buyback announcement lifts Uber to all-time highs. Lyft soars 35.12% after forecasting it will turn cashflow positive this year.
• Stocks rally as the US 10-year treasury yield halves Tuesday night's rise, which followed news that consumer prices increased more than expected last month, delaying the likely start of rate cuts later this year. Market pricing on the first cut drifts out to June.
• Chicago Fed President Austan Goolsbee says the Federal Reserve is still on track to reduce rates later this year, even if inflation "comes in a bit higher for a few months". "Let's not get amped up when you get one month of CPI that was higher than what you expected it to be," he says. "It is totally clear that inflation is coming down."
• Wall Street's "fear gauge", the VIX or Volatility Index, declines 8.9%.
• Small caps rebound. The Russell 2000 index, smashed down 4.12% on Tuesday, rallies 2.38%.
• The best of the sectors are industrials +1.67%, communication services +1.42% and tech +1.1%. Drags include consumer staples -0.19% and energy -0.17%.
• Oil retreats following an increase in US inventories. Official stockpiles rose by 12 million barrels last week. Brent crude drops 1.41%.

Key events today:

• Earnings season: Wesfarmers, Telstra, South32, Goodman Group, Origin Energy, Treasury Wine Estates, Whitehaven Coal, Vicinity Centres, Magellan, NRW Holdings, Pro Medicus, Arena REIT, Data#3, Beacon Lighting (source: CommSec).
• Testimony by RBA Governor Bullock before the Senate Economics Legislation Committee - 9 am AEDT
• January employment report - 11.30 am (expected: +26,400 jobs; jobless rate - 4%)
• US retail sales, Empire State manufacturing, jobless claims - tonight

S&P 500: up 47 points or 0.96%

Dow: up 152 points or 0.4%

Nasdaq: up 204 points or 1.3%

Dollar: up 0.59% to 64.91 US cents

Iron ore (Singapore): up 0.2% to US$128.80

Brent crude: down US$1.17 or 1.41% to US$81.60

Gold: down US$2.90 or 0.1% to US$2,004.30

NYSE Arca Gold Bugs: up 0.3%

Bitcoin: up 4.16% to US$51,479

Copper (LME): down 0.71% to US$8,201

Nickel (LME): up 0.12% to US$16,320

Uranium (spot price): down 0.77% to US$103.50

Lithium carbonate (China spot): down 0.07% to US$13,461

Global X Lithium & Battery Tech ETF: up 1.88%

BHP: up 1.59% (US); up 0.94% (UK)

Rio Tinto: up 0.66% (US); up 0.44% (UK)