The Morning Jumpstart


  • SPI200 overnight futures down 14 pts to 6162
  • SP500 up 10.76 pts to 2887.89
  • NASDAQ up 48.31 pts to 7972.47
  • FTSE100 down 5.76 pts to 7273.54
  • DAX30 down 16.07 pts to 11970.27
  • GOLD futures (Dec) up $3.80 to $1203.60 an ounce
  • COPPER futures (Comex Dec) down $0.004 to $2.624 a pound
  • OIL futures (Nymex Oct) up $2.34 to $69.88 a barrel
  • CRB Index up 0.65 pts at 191.67
  • AUDUSD trading at 0.7121
  • EURUSD trading at 1.1604
  • GBPUSD trading at 1.3027
  • USDJPY trading at 111.6000


The US had a positive session as investors jumped back in to tech and energy stocks even as a trade war is set to escalate. Data out overnight showed another big tick for the economy with job openings showing labour market strength. The downside is that this means higher wages which will eat away at corporate profits. Negotiations with Canada take a step forward for the US as Canada is ready to offer access to its dairy market. The DOW was up 113.99 pts or 0.44% while the broader SP500 was up 0.37% and the Nasdaq also up 0.61%. In Europe shares initially fell from the open on continued trade and emerging markets concerns but then buyers stepped in to rally the major indexes higher into the close.

The USD was again slightly lower being pressured by a ‘risk on’ trade into the EUR and GBP and out of the safe haven USD. The AUD and the EUR were higher in a subdued market while the GBP was flat for the session.

Emerging market remained under pressure with an index of the major countries dropping 0.66% to the lowest level in the past 16 months.

Gold continued to move higher as the USD continued to edge lower. Net sellers on gold could be the fuel for a squeeze if further pressure is applied and we see short positions close out to lock in gains. Copper was slightly lower as Trump is yet to announce tariffs on China leaving traders cautiously optimistic and pressure may increase from decreased demand from emerging markets. Oil gained on supply concerns ahead of US Inventory data as the US is set to hit Iran with sanctions.

Cryptocurrencies were again under pressure as Bitcoin trades at $6252.9 down 0.59% while Ethereum is at $180.94 down 7.88% and Ripple is trading at $0.25820 down 2.97%.

Locally, the ASX200 saw some buyers come out of the woodwork to close the Index up 38 points. Banks and Energy stocks were the big gainers which helped lift the market with CBA putting on 1.6% to lead the charge. The buying pressure was constant from the start and kept up into the close. The potential for an escalation in a trade war kept Asian trade subdued with China edging lower in late trade yesterday. Advancing stocks outnumbered falling ones by 654 to 535 and 363 ended unchanged.

The ASX200 is expected to open down 5/10 points as the SPI200 floundered overnight to trade in a tight range after a solid session during the day.



AUD  Westpac Consumer Sentiment 10:30am

EUR  Italian Industrial Production 6pm

EUR  Industrial Production 7pm

USD  PPI Data 10:30pm

USD  Crude oil Inventories 12:30am

USD  FOMC Member Brainard Speaks 2:45pm

USD  Beige Book 4am