The Morning Jumpstart


  • SPI200 (Sep) overnight futures down 65 pts to 5613
  • SP500 down 52.43 pts to 2638.30
  • NASDAQ down 119.65 pts to 6908.82
  • Dow Jones down 551.80 pts to 24,465.64
  • FTSE100 down 52.97 pts to 6947.92
  • DAX30 down 178.13 pts to 11066.41
  • GOLD futures (Dec) down $3.50 to $1221.80 an ounce
  • COPPER futures (Comex Dec) down $0.0430 to $2.7560 a pound
  • OIL futures (Nymex Dec) down $3.84 to $53.36 a barrel
  • CRB Index down 4.97 pts at 183.78
  • AUDUSD trading at 0.7220
  • EURUSD trading at 1.1371
  • GBPUSD trading at 1.2788
  • USDJPY trading at 112.6600


Another bloodbath in the US overnight as shares started the session weaker and never recovered. Tech stocks again came under fire as Apple was lower which has far reaching implications for product parts providers. Recent conflicting reports over the US and China trade dispute had traders exit the market and back on the sidelines ahead of the shortened trade week. Volumes were again lower which will always exacerbate a negative move. Traders are de-risking going into the end of the year as the outlook for US corporate earnings dims. The DOW was hit hardest down 2.21% and the broader SP500 was down 1.95% while the Nasdaq ending down 1.70%. In Europe shares were weaker on the back of lower tech and banking shares as global growth slows.

The USD managed to bounce and trade higher for the session as traders dived into US Government bonds as a safe haven which supported the Dollar. The EUR, GBP and the AUD were all lower on the strength in the USD. Traders were happy to lock in some of the recent gains ahead of the US Thanksgiving Holiday.

Gold was weaker as the USD rallied to put pressure on the precious metal. Oil was hit hard overnight to fall nearly 7% on the futures as weak sanctions on Iran from the US, led to the selloff. Traders happy to sell oil on rallies as US crude stockpiles rise and are also expecting the next OPEC meeting to be a non-event on production cuts and further pressure Oil. Copper was lower as continued concern and uncertainty over US/China trade pressured prices along with the rally in the USD.

Cryptocurrencies are still under fire after Bitcoin was smashed through key support levels recently. Bears are out as Bitcoin is currently trading at $4516.4 down 10.44% while Ethereum is trading at $136.74 down 12.18% and Ripple at $0.44519 down 11.35%.

Locally, the ASX200 closed down 21.9 points to 5671.8 managing to rally off the lows into the close. Traders are still nervous and happy to remain on the sidelines especially with the US having a shortened trading week. Declining stocks outnumbered rising ones by 796 to 336 and 374 ended unchanged. Today may see more of the same as Energy is expected to come under pressure with Oil being hit overnight. Commodity indexes were hit also put downward pressure on our market today.

The ASX200 is expected to open down 65 points as the beating in overnight markets dragged the Aussie SPI200 lower.



AUD  MI Leading Index 10:30am

GBP  Public Sector Net Borrowing 8:30pm

USD  Core Durable Goods Orders and Unemployment Claims 12:30am

USD  Consumer Sentiment Data and Existing Home Sales 2am

USD  Crude Oil Inventories 2:30am