The Morning Jumpstart


  • SPI200 overnight futures up 18 pts to 6355
  • SP500 up 16.52 pts to 2914.04
  • NASDAQ up 79.65 pts to 8109.69
  • FTSE100 down 54.01 pts to 7563.21
  • DAX30 up 34.26 pts to 12561.68
  • GOLD futures (Dec) up $5.80 to $1212.80 an ounce
  • COPPER futures (Comex Dec) down $0.026 to $2.732 a pound
  • OIL futures (Nymex Oct) up $1.16 to $69.69 a barrel
  • CRB Index up 1.24 pts to 192.96
  • AUDUSD trading at 0.7313
  • EURUSD trading at 1.1708
  • GBPUSD trading at 1.3028
  • USDJPY trading at 111.7000


Companies of interest reporting today on the ASX – ALK, ALX, AKP, ASB, TBH, BID, BOT, EM1, GXY, HRR, IPD, KSN, MXC, MOQ, PPT, RHC, RPG, SFR, TTS.

The US saw the bears reluctantly chase their tales and follow the major Indexes into new all time highs. The DOW had another good session and closed up 60.55 points or 0.23% with the SP500 up 0.57% and the Nasdaq leading the charge up 0.99%. Traders were optimistic about Canada and the US doing a trade deal for NAFTA although Canada warned that there is still sticky issues to be worked out. Strong GDP data out in the US showed an increase from the previous estimate for the April-June quarter underlying the strength in the economy. In Europe the FTSE100 was lower for the session feeling heat from a rally in the Pound while the rest of Europe gained on easing trade tensions although remain cautious around a deal with China.

The USD dollar again edged lower as traders look to the future after already factoring in strong GDP data. Many investors are now wondering where future growth in the US will come from as tax cuts are already factored into the corporate bottom line. Some safe haven bets were also unwound as traders look ahead to easing trade tensions. The EUR was slightly higher while the AUD lost ground as WBC raised benchmark mortgage rates leaving traders wondering if the RBA will cut rates to compensate. The GBP had a big night after comments from the EU’s Brexit negotiator said that the bloc was ‘prepared to offer Britain an unprecedentedly close relationship after it quits the EU’.

Oil had a great night to rally but falling just short of the $70 mark after US inventories came out a lot lower than expected. Copper gave up some recent gains as traders look towards US/China trade negotiations and US tariffs of $200 Billion due soon. Gold rallied from yesterday morning as a drop in the USD continued to buoy buyers.

Cryptocurrencies held onto the bulk of the gains with Bitcoin holding above 7000 currently trading at $7030.8 down 0.71%. Ethereum is at $290.01 down 1.53% and Ripple is trading at $0.34678 down 1.24%.

Locally, the ASX200 had a great day with banks leading the charge from the start. Buyers stepped in to match prices higher while buying banks throughout the session only to pile on the pressure after 3pm to rally the big four into the close. Banks have suffered recently and with a change of sentiment around global trade, they are seen as good value. WBC raised rates on benchmark mortgages and the fear is that other domestic banks will follow making it more likely that the RBA will cut rates as house prices under some pressure. Advancing stocks outnumbered falling ones by 651 to 557 and 396 ended unchanged.

The ASX200 is expected to open up 15 points as the days strength in the SPI200 continued overnight in the US session.



NZD  ANZ Business Confidence 11am

AUD  Private Capital Expenditure and Building Approvals 11:30am

EUR  German Import Prices 4pm

EUR  German Prelim CPI All Day

EUR  Spanish Flash CPI 5pm

EUR  German Unemployment Change 5:55pm

GBP  M4 Money Supply, Mortgage Approvals and Net Lending 6:30pm

CAD  GDP  10:30pm

USD  Personal Spending, Personal Income and Unemployment Claims 10:30pm

EUR  German Buba President Weidmann Speaks 3:30am