Day trading pre-market open February 8

Morning traders. Thanks loungers, especially @Ravgnome.


Outlook for the day: Neutral despite fresh highs on Wall Street as the US earnings season rolls on.

ASX futures: up 3 points or 0.04%


Overnight themes:

• The S&P 500 closes at a new high after coming within a whisker of breaking 5,000 for the first time. The rally comes as a broadly positive earnings season helps investors look past questions about the timing of interest rate cuts.
• The broadest of Wall Street's three major indices peaks at 4,999.89 before closing at 4,995, a gain of 41 points or 0.82%.
• The Nasdaq puts on 0.95% as tech stocks outperform. The Dow advances 0.4%, joining the S&P 500 at a record close.
• Small caps under-perform. The Russell 2000 finishes 0.21% in the red.
• Ford, Chipotle, Fortinet and Enphase are among companies enjoying price boosts after reporting earnings. More than 81% of S&P 500 companies that have reported have beaten profit expectations, according to LSEG data.
• Stocks have scaled fresh heights in recent weeks as the fourth-quarter earnings season helps soothe fears of the impact of a higher cost of living on consumers. Economic data has been surprisingly resilient.
• “It’s earnings driven, but it’s bleeding over into other companies that may not have announced. They’re getting swept on the coattails. Some of what we’re experiencing this year is people don’t want to be left behind like they were last year” - Kim Forrest, CIO at Bokeh Capital (per CNBC).
• Tech, consumer and mining stocks lead the advance. The tech sector gains 1.43%, consumer discretionary 1.13% and materials 0.81%. Energy and real estate are the only laggards, easing less than 0.1%.
• New York Community Bancorp bounces 7.14% after hitting a 27-year low as Moody's lowers the bank's credit rating to junk. The bank announced a surprise loss last quarter, reigniting concerns about the impact of higher rates on regional lenders exposed to commercial real estate.

Key events today:

• Earnings season: Transurban, AGL, Mirvac, News Corp, REA Group, Unibail-Rodamco-Westfield, Charter Hall Long Wale REIT (source: CommSec)
• China inflation data - 12.30 pm AEDT
• US unemployment claims - tonight

S&P 500: up 41 points or 0.82%

Dow: up 156 points or 0.4%

Nasdaq: up 148 points or 0.95%

Dollar: down 0.13% to 65.19 US cents

Iron ore (Singapore): down 0.3% to US$127.03

Brent crude: up 62 US cents or 0.79% to US$79.21

Gold: up 30 US cents or 0.1% to US$2,051.70

NYSE Arca Gold Bugs: down 0.83%

Bitcoin: up 0.82% to US$43,428

Copper (LME): down 1.12% to US$8,308

Nickel (LME): up 0.53% to US$15,985

Uranium (spot price): down 1.94% to US$105

Lithium carbonate (China spot): up 0.14% to US$13,480

Global X Lithium & Battery Tech ETF: up 0.41%

BHP: up 0.31% (US); up 0.06% (UK)

Rio Tinto: up 0.29% (US); down 0.3% (UK)