The Morning Jumpstart


  • SPI200 overnight futures up 27 pts to 6267
  • SP500 up 24.35 pts to 2784.17
  • NASDAQ up 67.82 pts to 7756.20
  • FTSE100 up 70.29 pts to 7687.99
  • DAX30 up 47.72 pts to 12543.89
  • GOLD futures up $2.50 to $1258.30 an ounce
  • COPPER futures up $4.70 to $287.10 a pound
  • OIL futures up $0.21 to $74.01 a barrel
  • CRB Index up 0.18 pts to 198.23
  • AUDUSD trading at 0.7466
  • EURUSD trading at 1.1752
  • GBPUSD trading at 1.3256
  • USDJPY trading at 110.8200

The US had a strong session to start the week as Bank stocks led the major Indexes higher. The DOW was up 320.11 points or 1.31% while the SP500 was up 0.88% and the Nasdaq was up 0.88% at the close. Traders continued to brush aside trade issues between the US and China and focus on the balanced employment data out Friday. The S&P Banking Index rose 2.7% ahead of earnings reports later in the week. Traders are expecting a strong second quarter earnings season as the economy powers along. In Europe traders jumped into shares with enthusiasm as conditions are supportive for growth. The FTSE kicked on to lead the way as it was supported by a drop in the Pound.

Cryptocurrencies hover around the same levels as Bitcoin is trading at $6710.8 down 0.73% while Ethereum is at $477.21 down 2.24% and Ripple is at $0.47786 down 1.71%.

The USD index was slightly higher after data showed that net long positions increased last week. The EUR was relatively unchanged to hold its ground against a higher USD. The GBP was weaker on another British cabinet resignation over Prime Minister Theresa May’s plan for leaving the EU. The AUD pushed higher on strength in commodity indexes.

Gold made back some lost ground from Friday. Copper also pushed higher as trade tensions were brushed aside by share traders and sellers looked to lock in some gains from the recent drop in Copper prices. Oil continued to edge higher.

Locally, shares were higher at the close led by gains in Mining and Resources on a bounce in Copper prices. Advancing stocks outnumbered falling ones by 642 to 548 and 379 ended unchanged. The big four Banks continued to move up with CBA leading the way closing up 0.6%.

The ASX200 is expected to open up around 25 points as the SPI200 was dragged higher by another strong night in the US.



AUD  NAB Business Confidence 11:30am

CNY  CPI and PPI Data 11:30am

GBP  GDP, Manufacturing Production, Goods Trade Balance and Industrial Production 6:30pm

EUR  German ZEW Economic Sentiment 7pm

EUR  ZEW Economic Sentiment 7pm

CAD  Building Permits 10:30pm