The Morning Jumpstart


  • SPI200 overnight futures up 16 pts to 6188
  • SP500 up 16.68 pts to 2716.31
  • NASDAQ up 58.60 pts to 7503.68
  • FTSE100 down 6.06 pts to 7615.63
  • DAX30 down 171.38 pts to 12177.23
  • GOLD futures down $6.60 to $1249.50 an ounce
  • COPPER futures down $3.95 to $296.80 a pound
  • OIL futures up $0.52 to $73.28 a barrel
  • CRB Index down 0.06 pts to 198.89
  • AUDUSD trading at 0.7350
  • EURUSD trading at 1.1571
  • GBPUSD trading at 1.3075
  • USDJPY trading at 110.500

The US again reversed its fortunes as buyers stepped into the action to close the market higher. Technology and Financial shares led the gains as the DOW closed up 98.46 points or 0.41% while the SP500 was up 0.62% and the Nasdaq up 0.79%. Concerns still remain on trade tariffs as traders see inconsistency out of the White House as to what the trade policy actually is leaving some traders waiting on the sidelines. In Europe markets were lower as they played catch up with the US from the previous weak close and also as China’s Yuan retreated encouraging traders to book the gains and search for safe haven assets. As Trump continues to pick fights on all fronts and no side showing willingness to back down, traders expect to see a cautious market in the near term.

Cryptocurrencies were lower as Bitcoin pushes below 6000 currently trading at $5938.4 down 3.31%. Ethereum is down 1.86% at $427.42 while Ripple is down 4.49% at $0.45046.

The USD index was unchanged for the session leaving other currencies to move to their own beat. The EUR was higher at the close while the GBP edged lower. The AUD was slightly higher as US bonds had a mixed session which helped currency pairs find some selling relief.

Gold continued its move lower as sellers remain in control on a weak technical outlook. Copper also continued to edge lower as traders remain cautious over trade relations between the US and Coppers biggest importer, China. Oil continued to find strength and had another positive close on recent news of smaller than expected production increases from OPEC.

Locally, shares pushed higher into the close after much of the session was spent in a range. Gains in energy, Gold and Resources helped the market finish in positive territory up 0.35% but banks were the big driver as they all rallied from around 2:30pm into the close.

The ASX200 is expected to open up 10/15 points as the SPI200 rallies into the close as the US has a strong session.



JPY  Tokyo Core CPI and Unemployment Rate 9:30am

JPY  Prelim Industrial Production 9:50am

AUD  HIA New Home Sales Tentative

AUD  Private Sector Credit 11:30am

EUR  German Retail Sales and Import Prices 4pm

EUR  German Unemployment Change 5:55pm

GBP  Current Account, Net Lending to Individuals and Final GDP 6:30pm

EUR  CPI Flash Estimate Data 7pm

CAD  GDP 10:30pm

USD  Personal Spending and Personal Income 10:30pm

USD  Revised Consumer Sentiment 12am

CAD  BOC Business Outlook Survey 12:30am