The Morning Jumpstart


  • SPI200 (Sep) overnight futures up 25 pts to 5699
  • SP500 up 22.41 pts to 2760.17
  • NASDAQ up 57.45 pts to 7330.54
  • Dow Jones up 199.62 pts to 25,538.46
  • FTSE100 down 58.71 pts to 6980.24
  • DAX30 down 40.99 pts to 11257.24
  • GOLD futures (Feb) down $4.40 to $1226.00 an ounce
  • COPPER futures (Comex Mar) up $0.0030 to $2.7920 a pound
  • OIL futures (Nymex Jan) down $0.52 to $50.93 a barrel
  • CRB Index down 0.58 pts at 181.74
  • AUDUSD trading at 0.7306
  • EURUSD trading at 1.1317
  • GBPUSD trading at 1.2749
  • USDJPY trading at 113.5700


The US finished the week on a positive note to follow on from the previous few days of strength. The DOW was up 0.79% while the broader SP500 was also up 0.82% and the Nasdaq also ended up 0.79%. Further weakness in the oil market failed to concern traders as buyers stepped into shares from the opening bell to rally prices into the close. In Europe shares were lower striking a cautious tone ahead of the weekend.

China and the US agreed at the G20 Summit to halt additional tariffs for 90 days as they try to prevent their trade war from escalating. Leaders also agreed for an overhaul of the World Trade Organization (WTO) who regulate international trade disputes. The US has agreed to leave tariffs on $200B worth of imports at 10% while China has agreed to purchase a substantial amount of agricultural, energy and industrial product from the US. They also agreed to start talks on structural changes with regards to tech transfers, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture.

The USD rallied again Friday night as traders positioned themselves for any fallout from the US/China trade talks. The major crosses all reacted to the stronger Dollar as the EUR, the GBP and the AUD were all weaker into the weekend.

Gold was lower on strength in the USD and as recent buyers from $1212/1214 closed longs into the weekend talks. Oil fell Friday night as growing inventories are concerning traders and buyers need to see some action from OPEC and Russia before stepping back in to support prices. Copper was relatively unchanged for the session in choppy trade.

Cryptocurrencies edged lower over the weekend as cryptos continued to find selling pressure. Bitcoin is currently trading at $4175.8 down 0.65% while Ethereum is at $116.85 down 1.03% and Ripple is trading at $0.36969 down 0.51%.

The ASX200 was hit hard Friday to close lower on trader concern over a crucial meeting between the Chinese and US presidents. The Index fell 91.2 points to close at 5667.2 as the selling pressure did not let up all day. Traders were nervous ahead of the meeting and rushed to take risk off the table. The index posted its third monthly loss in a row down 2.8% for November. The banks continued to drag in the index as traders await a final report from the Royal Commission on Feb 1st which may lead to tougher regulation. News that Factory growth in China slowed to its weakest pace in over 2 years, also weighed on sentiment. Declining stocks outnumbered rising ones by 652 to 507 and 351 ended unchanged.

The ASX200 is expected to open up 25 points after the SPI200 followed the US higher Friday night.



AUD  MI Inflation Gauge  11am

AUD  Building Approvals and Company Operating Profits  11:30am

CNY  Caixin Manufacturing PMI  12:45pm

AUD  Commodity Prices 4:30pm

EUR  German Final Manufacturing PMI  8pm

EUR  Final Manufacturing PMI  8pm

GBP  Manufacturing PMI  8:30pm

USD  ISM Manufacturing PMI  2am