The Morning Jumpstart


  • SPI200 overnight futures down 33 pts to 5739
  • SP500 down 58.37 pts to 2604.47
  • NASDAQ down 161.44 pts to 6915.11
  • FTSE100 down 15.86 pts to 7183.64
  • DAX30 down 63.92 pts to 12241.27
  • GOLD futures up $7.60 to $1336.10 an ounce
  • COPPER futures down $1.60 to $305.85 a pound
  • OIL futures down $1.48 to $62.06 a barrel
  • CRB Index down 0.09 to 192.25
  • AUDUSD trading at 0.7684
  • EURUSD trading at 1.2281
  • GBPUSD trading at 1.4092
  • USDJPY trading at 106.9300

The US finished off the week on a low note as the major stock Indexes crashed with sellers pushing prices lower from start to finish. The DOW was down 572 points or 2.34% while the NASDAQ was down 2.28% and the broader SP500 was down 2.19%. In a mixed report Friday night, US employment change data come out slightly weaker than expected and average hourly earnings increased although Fed Chair Powell said that he expects to see inflation pick up in spring. Trade war concerns once again brought out sellers after US Treasury Secretary Mnuchin said in an interview that they are not focused on short term market swings and there is potential for a trade war with China although that is not the objective. In Europe markets were also weaker on trade war concerns after China said that they are fully prepared to respond with a “fierce counter strike” of fresh trade measures if the US follows through on Trump’s threat of an additional $100 billion of tariffs.

Cryptocurrencies held up relatively well considering the weakness in share prices. Bitcoin is currently trading at $7038 up 0.74% while Ethereum is up2.12% and Ripple is up 1.31%.

The USD index was weaker to round out the week as USD bond yields dropped.  The EUR and the GBP both found found some strength on USD weakness while the AUD was unchanged for the session.

Gold managed to bounce thanks to safe haven buyers attracted to the precious metal. Oil lost ground on increased trade war concerns after Trump recently went looking for potentially another $100 billion on tariffs. Copper again come under pressure from demand concerns from China.

The ASX200 is expected to open down around 32 points after trade war concerns persist through the US session and drag the SPI200 overnight futures lower.



JPY  Current Account 9:50am

JPY  Consumer Confidence 3pm

EUR  German Trade Balance 4pm

CAD  BOC Business Outlook Survey 12:30am