The Morning Jumpstart


  • SPI200 overnight futures down 17 pts to 6162
  • SP500 up 1.03 pts to 2888.92
  • NASDAQ down 18.24 pts to 7954.23
  • FTSE100 up 39.82 pts to 7313.26
  • DAX30 up 62.03 pts to 12032.30
  • GOLD futures (Dec) up $9.40 to $1211.60 an ounce
  • COPPER futures (Comex Dec) up $0.062 to $2.684 a pound
  • OIL futures (Nymex Oct) up $1.06 to $70.31 a barrel
  • CRB Index up 1.69 pts at 193.36
  • AUDUSD trading at 0.7170
  • EURUSD trading at 1.1629
  • GBPUSD trading at 1.3046
  • USDJPY trading at 111.2500


The US had an uneventful session as investors sat on the fence awaiting further news on the trade front. News that the US reached out to China for a fresh round of talks helped buoy trade sensitive stocks on the DOW while the Nasdaq was down after Apple failed to meet expectations on the new iPhone, iOS12 and iWatch offerings. Negotiations with Canada continue in the right direction but plenty of work remains before a deal is hammered out. The DOW edged up 27.86 pts or 0.11% while the broader SP500 was up slightly 0.04% and the Nasdaq ended down 0.23%. In Europe shares shrugged off trade concerns to finish in the green buoyed by mining and energy sectors.

The USD index continued lower as the US Beige book showed that some US businesses were holding off from investment due to trade concerns. The AUD, the GBP and the EUR were higher on the back of USD weakness.

Gold had a solid night as risk off in the USD provided support to the precious metal and commodities across the board. Copper was higher as buyers jumped in on a weaker USD and after US look to re-open talks with China over trade before implementing another $200 Billion of tariffs. Oil gained on weaker than expected US inventories which added to the bulls story of decreasing supply concerns.

Cryptocurrencies were mixed overnight with Bitcoin trading at $6317.1 up 0.01% while Ethereum is at $181.27 down 2.68% and Ripple is trading at $0.26682 up 0.61%.

Locally, the ASX200 found weakness on the open but then bounced to finish down just 3.8 points giving the bulls a small victory. A sell off in Chinese Iron Ore led to some weakness in mining stocks but Oil stocks helped buoy the Index. Banks and Insurers came under fire from findings in a month long inquiry. Declining stocks outnumbered rising ones by 621 to 582 and 367 ended unchanged.

The ASX200 is expected to open down 10/15 points after a lacklustre session for the SPI200 overnight. We expect to see miners and energy shares supported today but it may be flat ahead of Aussies jobs data out at 11:30am.



AUD  Employment Change and Unemployment Rate 11:30am

EUR  German Final CPI 4pm

GBP  Official Bank Rate and Monetary Policy Summary 9pm

EUR  Main Refinancing Rate 9:45pm

EUR  ECB Press Conference 10:30pm

USD  CPI Data and Unemployment Claims 10:30pm

USD  FOMC Member Quarles Speaks 12am

USD  FOMC Member Bostic Speaks 3:15am