Day trading pre-market open July 4

Morning traders. Thanks loungers, especially @Ravgnome and @Patterns.

Outlook for the day: Neutral following a subdued, holiday-shortened session in the US and ahead of this afternoon's finely-balanced Reserve Bank interest rate decision.

ASX futures: down one point or 0.01%

Overnight themes:

• US stocks edge higher during a thinly-traded half-session leading into tonight's July 4 public holiday. Exchanges close at 1 pm.
• Electric car-makers rise after Tesla, Rivian and other manufacturers beat production expectations. A record quarter lifts Tesla 6.9%.
• Banks rally after passing their annual Federal Reserve health check. The S&P 500 banks index gains 1.5%.
• Recession fears linger after a measure of factory activity drops to its lowest since the first wave of the pandemic. The ISM Manufacturing PMI eases to 46 in June from 46.9 in May. Readings below 50 indicate contracting activity.
• US stocks are coming off a strong start to the year. The first six months have been the Nasdaq's best since 1983.
• “Instead of being overly worried, maybe investors might want to make sure that they don’t miss out on a potentially positive second half now that the first half has offered us a running start” - Sam Stovall, chief investment strategist at CFRA Research.
• Nine of eleven sectors rise, led by consumer discretionary, real estate and consumer staples. Health and tech retreat.
• Iron ore declines in China after the leading steel-making hub, Tangshan, orders steel mills to reduce production until the end of the month to improve air quality.

Key events today:

• Interest rate decision - 2.30 pm AEST
• US market holiday - tonight

S&P 500: up five points or 0.12%

Dow: up 11 points or 0.03%

Nasdaq: up 29 points or 0.21%

Dollar: up 0.18% to 66.7 US cents

Iron ore (Dalian): down 1.68% to US$112.94

Brent crude: down 76 US cents or 1% to US$74.65

Gold: up US$1.40 or 0.7% to US$1,930.80

NYSE Arca Gold Bugs: up 1.59%

Copper (LME): up 0.78% to US$8,380

Nickel (LME): up 1.27% to US$20,660

Global X Lithium & Battery Tech ETF: up 2.81% (20-week high)

BHP: up 1.88% (US); up 2.09% (UK)

Rio Tinto: up 1.55% (US); up 2.12% (UK)