Day trading pre-market open September 4

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

Outlook for the day: Positive following gains in key commodities and a broadly positive US session ahead of the US Labor Day long weekend.

ASX futures: up 31 points or 0.43%

Friday themes:

· US stocks finish mixed but broadly higher as a jump in joblessness sharpens hope for a rates pause. The S&P 500 and Dow rise. The Nasdaq ends fractionally lower.

· The unemployment rate unexpectedly rises to 3.8% last month from 3.5% in July as job gains moderate and participation increases. Payrolls increase by 187,000, slightly ahead of expectations, but well down on the monthly average increase through the first half of the year.

· The odds on 'no-change' at this month's Federal Reserve rates decision rise to 93%.

· "This is probably the final nail in the coffin for the chances of another rate hike by the Fed in September" - Christopher Rupkey, chief economist at FWDBONDS.

· Tesla falls after cutting US prices for some models. Shares of streaming services sink after a contract squabble between Disney and cable company Charter Communications leads to Disney pulling programming.

· Trade on Wall Street is suspended tonight for the Labor Day public holiday.

· Oil hits a 2023 high after China announces more support for the economy and a measure of factory activity comes in stronger than expected. Brent crude climbs 2% to a level last seen in mid-November.

· Iron ore prices gain 3% for the week after China relaxes borrowing rules for house-buyers to help stabilise property prices. Industrial metals also rally.

Key events this week:

· Dividend season (headwind this month as share price valuations reset). Major companies trading ex-dividend this week include: FMG, BPT (today); ORG (Tue); AMC, RHC, SHL (Wed); and BHP (Thu).

· Job ads, company operating profits - 11.30 am AEST

· US market holiday - tonight

· Interest rate decision - tomorrow

· GDP - Wednesday

· Trade balance - Thursday

· Speech by departing RBA chief Philip Lowe - Thursday

S&P 500: up eight points or 0.18%

Dow: up 116 points or 0.33%

Nasdaq: down three points or 0.02%

Dollar: down 0.15% to 64.5 US cents

Iron ore (Dalian): up 0.48% to US$116.40

Brent crude: up US$1.72or 2% to US$88.55

Gold: up US$1.20 or 0.1% to US$1,967.10

NYSE Arca Gold Bugs: down 0.72%

Copper (LME): up 0.93% to US$8,500.50

Nickel (LME): up 3.92% to US$21,085

Lithium carbonate (China spot): down 1.2% to US$28,626

Global X Lithium & Battery Tech ETF: up 0.24%

BHP: up 1.34% (US); up 1.32% (UK)

Rio Tinto: up 2.16% (US); up 2.05% (UK)