Day trading pre-market open September 15

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




Outlook for the day: Highly positive after the Dow has its best night in more than a month and ASX heavyweights BHP and Rio Tinto soar in overseas trade.

ASX futures: up 88 points or 1.22%


Overnight themes:

• US stocks take wing as investors bet the economy is running strong enough to avert a recession without pushing the Federal Reserve towards a rate hike this month. Market sentiment is lifted by a strong debt for the biggest tech IPO of the year.
• The Dow jumps almost 1%, its best single-day return since early August.
• Retail sales increase 0.6% in August, but July figures are revised downwards.
• First-time claims for unemployment benefits creep higher from 217,000 to 220,000 last week.
• Producer prices jump 0.7% in August, lifting 12-month growth to 1.6% from 1.2% in July.
• "There is nothing in today's reports to prompt a Fed rates response next week...The economy is in a good place for now with moderate consumer demand that is not hot enough to bring inflation back to life" - Christopher Rupkey, chief economist at FWDBONDS.
• The odds on a September rates pause stick at 97%, but bets on a November hike rise to 67%.
• UK chip designer Arm Holdings soars 24.69% upon listing on the Nasdaq, boosting confidence that investors will support the IPO market after a long lull in major listings.
• "The game is back on. Capital markets are open for business. You're going to see so many IPOs in the next 12 weeks your head is going to spin" - Thomas Hayes, chairman of Great Hill Capital.
• All 11 US sectors rally, led by real estate, utilities and materials. Sector gains range from 0.25% (health) to 1.71% (real estate).
• BHP and Rio Tinto surge 4% on overseas exchanges after iron ore touches a six-month high in Singapore. Benchmark ore on the Singapore Exchange climbs 0.78% to US$120.35 a ton, the highest since March 17.
• US oil settles above US$90 a barrel for the first time this year. West Texas Intermediate crude gains US$1.64 or 1.9% at US$90.16. The international benchmark, Brent crude, logs its strongest close since November.

Key events today:

• China factory production, retail sales, unemployment - 12pm AEST
• US industrial production, consumer sentiment - tonight

S&P 500: up 38 points or 0.84%

Dow: up 332 points or 0.96%

Nasdaq: up 112 points or 0.81%

Dollar: up 0.19% to 64.33 US cents

Iron ore (Dalian): up 0.82% to US$118.68

Brent crude: up US$1.82 or 2% to US$93.70

Gold: up 30 US cents or 0.1% to US$1,932.80

NYSE Arca Gold Bugs: up 0.99%

Copper (LME): up 0.25% to US$8,438

Nickel (LME): up 0.4% to US$20,230

Lithium carbonate (China spot): down 0.26% to US$26,226

Global X Lithium & Battery Tech ETF: up 1.13%

BHP: up 3.99% (US); up 4.7% (UK)

Rio Tinto: up 4.63% (US); up 4.73% (UK)