The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 7 pts to 6070
  • SP500 down 1.14 pts to 2884.43
  • NASDAQ down 52.50 pts to 7735.95
  • FTSE100 down 85.21 pts to 7233.33
  • DAX30 down 164.74 pts to 11947.16
  • GOLD futures (Dec) down $14.10 to $1191.50 an ounce
  • COPPER futures (Comex Dec) up $0.007 to $2.770 a pound
  • OIL futures (Nymex Nov) down $0.09 to $74.23 a barrel
  • CRB Index up 0.72 pts at 199.76
  • AUDUSD trading at 0.7080
  • EURUSD trading at 1.1494
  • GBPUSD trading at 1.3093
  • USDJPY trading at 113.1700


The US was mixed on a day that the US bond market was closed for Columbus Day holiday. Markets were pressured by a drop in China shares after re-opening from a week long holiday. Traders are also concerned over future Chinese growth and how trade relations will affect the economy. Traders are still digesting the sharp spike in US bond yields and what it means to shares and further growth. The Nasdaq was hit hardest overnight as tech stocks lost their shine. The DOW bounced to close up39.73 pts or 0.15% while the broader SP500 was down 0.04% and the Nasdaq was hit hardest to close down 0.67%.  In Europe share Indexes were again hit as investor confidence took a knock from last week’s spike in Treasury yields.

Emerging markets remain under pressure as Italian bonds spiked and its local stock index fell 2.4%.

The USD index edged higher as traders sought the dollar as a safe haven. The GBP fell as gains were booked from on recent gains tied to optimism about a Brexit deal. The EUR edged lower on an EU spat with Italy over Italian budget plan while the AUD bounced after a recent selloff.

Gold buyers were squeezed out as the precious metal dropped on continued USD strength as traders favoured the dollar as a yielding safe haven. Copper found some buyers to edge higher into the close while Oil hovered above $74 a barrel as traders assess potential sanctions on Iranian exports and whether the sanctions will be as tough as originally expected.

Cryptocurrencies had a good night considering the shaky stock markets. Bitcoin is trading at $6691 up 1.60% while Ethereum is at $231.41 up 2.92% and Ripple at $0.49585 up 4.58%.

Locally, the ASX200 was hammered yesterday to close at 6100.3 down 85.2 points. Banks were again a major drag on the index along with weakness in Asia which dragged down commodities and mining shares. China came back after a week long break to close down 3%. Declining stocks outnumbered rising ones by 789 to 373 and 371 ended unchanged.

The ASX200 is expected to open down 10 points as the SPI200 came under fire again overnight although managing to find some support into the close of the US session.



AUD  NAB Business Confidence 11:30am

EUR  German Trade Balance 5pm

GBP  MPC Member Broadbent Speaks 1:35am