The Morning Jumpstart


  • SPI200 overnight futures up 24 pts to 6241
  • SP500 up 24.27 pts to 2798.29
  • NASDAQ up 107.31 pts to 7823.92
  • FTSE100 up 59.37 pts to 7651.33
  • DAX30 up 75.84 pts to 12492.97
  • GOLD futures up $3.30 to $1247.70 an ounce
  • COPPER futures up $3.20 to $277.55 a pound
  • OIL futures down $0.03 to $70.35 a barrel
  • CRB Index up 1.17 pts to 194.00
  • AUDUSD trading at 0.7408
  • EURUSD trading at 1.1669
  • GBPUSD trading at 1.3202
  • USDJPY trading at 112.5400

US shares were stronger to erase the previous sessions losses as the Tech sector outperformed. The DOW was up 224.44 points or 0.91% while the SP500 ended up 0.87% and the tech heavy Nasdaq closed up 1.39%. Earnings will take center stage tonight as some major Banks report results. Metals prices rebounded from a meltdown after Trumps further tariff threats. Consumer Price Index data released overnight showed a steady buildup of inflationary pressure. In Europe shares had a solid open helped by gains in Asian trade and expectations for a solid earnings season.

Cryptocurrencies edged lower as Bitcoin is currently trading at $6162.1 down 3.43% while Ethereum is at $424.21 down 3.77% and Ripple is trading at $0.43311 down 3.64%.

The USD edged higher as solid inflationary data and a stronger labour market are expected to keep the US Fed Reserve on a path of gradual interest rate increases. The EUR and the GBP were relatively unchanged with a bias to the downside while the AUD gained back some lost ground to push higher as commodities rebounded after a rough session the previous night.

Gold had a minor bounce as sellers looked to lock in some gains around major technical support levels. Copper also bounced as commodity indexes moved higher off the lows through Asian trade into the European and US sessions. Oil was unchanged as supply concerns buoyed prices after the selloff the previous session.

Locally, shares were stronger at the close bucking the trend of overnight markets. The ASX200 finished up 0.90% as advancing stocks outnumbered falling ones by 641 to 460 and 403 ended unchanged. Banks led the charge to drag the market higher as the previous days losses were erased. Traders regained confidence as China rebounded settling Asian nerves and as Wall street futures pointed to a stronger open. Copper, a barometer for Tariff concern, pushed higher into the European session.

The ASX200 is expected to open up 20/25 points as the buyers continued the push higher on the SPI200 in the overnight session.



CNY  Trade Balance and USD-Denomiated Trade Balance Tentative

JPY  Revised Industrial Production 2:30pm

GBP  MPC Member Cunliffe Speaks 9pm

USD  Import Prices 10:30pm

USD  Prelim Consumer Sentiment 12am

USD  Fed Monetary Policy Report 1am