Day trading pre-market open January 31

Morning traders. Thanks loungers, especially @Ravgnome. End of the month already!


Outlook for the day: Neutral ahead of Q2 inflation data this morning that will steer the Reserve Bank's approach to interest rates.

ASX futures: up 1 point or 0.01%


Overnight themes:

• US stocks trade mixed as corporate earnings and economic data do little to move the needle ahead of major risk events this week. The Dow edges to a new all-time high. The Nasdaq retreats. The S&P 500 finishes little changed.
• "Markets are in a holding pattern given the busy week. There's nothing market-moving especially on the doorstep of so many big items over the next few days" - Ross Mayfield, investment strategy analyst at Baird (per Reuters).
• A busy 24 hours ahead for economic data and monetary policy includes Australian inflation data, Chinese factory activity, US private payrolls and a Federal Reserve interest rate decision and press conference, plus earnings this morning from Microsoft and Alphabet.
• An unexpected increase in US job openings tempers rate cut expectations. Employment vacancies increase to 9.03 million last month from 8.92 million in November. A separate measure of consumer confidence rises to its highest since December 2021.
• Financial heavyweights JPMorgan Chase and Goldman Sachs boost the Dow, offsetting down-pressure from Boeing, Intel and Apple. Drags on the Nasdaq include Apple, Amazon and Alphabet ahead of trading updates later this week.
• Among companies reporting overnight, UPS jumps 7.1%, Ford 2.1% and General Motors 8.1%.
• Financials is the pick of the sectors, gaining 1.2% after Morgan Stanley upgrades Bank of America and Citigroup. Also strong: energy +1.01%, materials +0.45% and consumer staples +0.56%. Tech and real estate are the biggest drags.
• Iron ore declines as the looming liquidation of Chinese property empire Evergrande casts a pall over the real estate sector. Trading volumes thinned ahead of the week-long Chinese Lunar New Year holiday.
• "Many construction sites have suspended operation and some steel traders have left the market with the Lunar New Year holiday approaching" - analysts at Everbright Futures(per Reuters).

Key events today:

• Q2 Consumer Price Index (inflation data) - 11.30 am AEDT
• China manufacturing/non-manufacturing PMIs - 12.30 pm
• US interest rate decision - tonight
• US private payrolls - tonight

S&P 500: down 3 points or 0.06%

Dow: up 134 points or 0.35%

Nasdaq: down 118 points or 0.76%

Dollar: down 0.18% to 66.02 US cents

Iron ore (Dalian): down 1.76% to US$136.46

Brent crude: up 47 US cents or 0.57% to US$82.87

Gold: up US$25.50 or 1.3% to US$2,050.90

NYSE Arca Gold Bugs: down 1.04%

Bitcoin: up 0.86% to US$43,602

Copper (LME): up 0.98% to US$8,642

Nickel (LME): up 0.46% to US$16,545

Uranium (spot price): steady at US$101

Lithium carbonate (China spot): up 0.07% to US$13,467.60

Global X Lithium & Battery Tech ETF: down 2.24%

BHP: down 0.29% (US); down 0.27% (UK)

Rio Tinto: down 1.21% (US); down 1.18% (UK)