The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 12 pts to 5759
  • SP500 up 21.33 pts to 2722.91
  • NASDAQ up 113.73 pts to 7250.13
  • Dow Jones up 158.64 pts to 25,239.14
  • FTSE100 up 4.22 pts to 7038.01
  • DAX30 down 58.86 pts to 11353.67
  • GOLD futures (Dec) up $3.70 to $1213.80 an ounce
  • COPPER futures (Comex Dec) up $0.0620 to $2.7490 a pound
  • OIL futures (Nymex Dec) up $0.25 to $56.50 a barrel
  • CRB Index down 2.52 pts at 185.54
  • AUDUSD trading at 0.7279
  • EURUSD trading at 1.1332
  • GBPUSD trading at 1.2777
  • USDJPY trading at 113.5300


The US benefited from renewed vigor into US/China trade talk as the major Indexes managed to close out in the green with gains. A Reuters report out said that Beijing provided the Trump administration with a document responding to requests from the US after months of declining to do so. Officials are still skeptical that the written response is going to trigger a breakthrough although it is a step in the right direction. The DOW was up 0.63% while the broader SP500 fared better up 0.79% and the Nasdaq also ending up 1.59%. In Europe shares were mixed with the FTSE100 weathering Brexit fears to close slightly higher while the DAX and the broader Stoxx50 Index were lower.

News out that the Italian Prime Minister was looking to work with the EU over its governments budget, helped support their bonds and the Euro. Italy will need to work closely with the EU to fix its debt problem to avert massive fines and keep the wolves at bay from attacking their stability.

The USD had a choppy session as it swung between gains and losses in the end being supported by weakness in the GBP. The USD was favored as a safe haven against a drop in the pound after fear arises again on a messy Brexit. The EUR and the AUD were both higher for the night while the GBP swung wildly to drop nearly 2%. Traders hit the British currency hard on Brexit concern after British ministers resigned in protest against a draft Brexit agreement which only stoked fears of a chaotic departure from the EU.

Gold managed to claw back a little extra of the previous losses as the USD came under pressure. Oil again rallied slightly as bargain hunters stepped into the market. The rally came on the back of the growing prospect that OPEC countries will cut output by up to 1.4 million barrels per day to prop up the commodity. Copper found some further buying support from US/China trade talks with hopes pinned on a resolution to potentially bring China buying back into the metal.

Cryptocurrencies were mixed after the previous sessions selloff thanks to Bitcoin breaking key support to trigger the selloff. Bitcoin is currently trading at $5665.5 down 0.36% while Ethereum is at $183.40 up 0.92% and Ripple at $0.47246 up 4.07%.

Locally, the ASX200 was pushed lower through 5700 during the session only to stage a late session rally of over 40 points to close up 3.2 pts to 5736. Investors are finding confidence in further signs that China and the US may work out their differences and move to resolve their months long trade dispute. Losses in financial stocks were offset by gains in the industrial and healthcare sectors. Declining stocks outnumbered rising ones by 618 to 530 and 345 ended unchanged.

The ASX200 is expected to open up 15 points and have a better session going into the end of the week.



EUR  ECB President Draghi Speaks 7:30pm

EUR  CPI Data 9pm

EUR  Italian Trade Balance 10pm

EUR  German Buba President Weidmann Speaks 12am

USD  Industrial Production and Capacity Utilization Rate 1:15am