The Morning Jumpstart


  • SPI200 overnight futures down 18 pts to 6262
  • SP500 down 4.80 pts to 2896.72
  • NASDAQ down 18.29 pts to 8091.25
  • FTSE100 down 46.74 pts to 7457.86
  • DAX30 down 136.20 pts to 12210.21
  • GOLD futures (Dec) down $9.60 to $1197.10 an ounce
  • COPPER futures (Comex Dec) down $0.072 to $2.599 a pound
  • OIL futures (Nymex Oct) down $0.45 to $69.35 a barrel
  • CRB Index down 0.83 pts at 192.12
  • AUDUSD trading at 0.7179
  • EURUSD trading at 1.1584
  • GBPUSD trading at 1.2855
  • USDJPY trading at 111.4600


Companies of interest reporting today on the ASX – ASN, AXT, AWE, ETE, LHC, MTB, SUM, WAK.

In the US major Indexes were lower as trade tensions again took centre stage. Traders see an escalation in the US/China conflict as an extra $200 Billion of tariffs are set to go and the Canadian president indicates that he will not bend on key NAFTA demands. The DOW was down 12.34 pts or 0.05% while the broader SP500 was down 0.17% and the Nasdaq was down 0.23%. In Europe shares were lower across the board as investors are torn between known strength in the underlying economy and unknown headwinds from trade conflicts.

US Bond Yields were higher as data showed manufacturing activity accelerated to a more than 14-year high in August. Rising yields are a ‘thumbs up’ to a strengthening economy which is currently offsetting issues arising due to the tariff war.

The USD was higher as traders continued to seek a safe haven against trade concerns. The EUR, AUD and the GBP were all lower on the USD strength. Emerging currencies were lower against the USD as the slow meltdown continues.

Gold took a turn for the worse as bears pushed price lower on strength in the USD. Copper also came under fire to move lower over 2% as traders await further news on US/China trade relations. Oil was initially higher on expectations that tropical storm Gordon could disrupt supply, but later gave up gains into the close of the session to finish lower.

Cryptocurrencies are still holding up with Bitcoin trading at $7380.7 up 0.74% while Ethereum is at $285.17 down 2.04% and Ripple is at $0.33164 down 2.02%.

Locally, the ASX200 finished down 17.8 points as traders see no relief on the trade front any time soon and as fresh investigations into financial institutions kept investors on the sidelines. The RBA left interest rates on hold yesterday at 1.50% as expected but this will do little to ease the pressure of banks lifting mortgage rates to protect profit margins. Declining stocks outnumbered rising ones by 676 to 507 and 378 ended unchanged.

The ASX200 is expected to open down 20 points as the SPI200 is dragged lower overnight from weakness in Europe and the US.



AUD  GDP 11:30am

CNY  Caixin Services PMI 11:45pm

EUR  Final Services PMI 6pm

GBP  Services PMI 6:30pm

EUR  Retail Sales 7pm

CAD  Trade Balance 10:30pm

USD  Trade Balance 10:30pm

CAD  BOC Rate Statement and Overnight Rate 12am