US Open – Brexit Deal Rally seems short-lived, Earnings, Oil, Gold, Bitcoin

Oct 17 11:10 2019 Print This Article

It was not expected to happen today, but a Brexit deal got hammered out.  PM Boris Johnson got the job done and now he needs to survive the Parliamentary arithmetic.  Johnson needs 320 votes to get his deal through the House of Commons.  Johnson will have just under 259 votes in the bag as Conservatives are expected to vote for him, that number is however lower since Johnson expelled a few in September.  Johnson’s math has him needing 61 votes from a possible 85 and that will be a tall task as he is still seeing resistance from Northern Ireland’s DUP, the party that holds what many consider 10 critical votes. 

The Brexit news triggered a risk-on rally across all the asset classes, helping S&P 500 futures recapture the 3,000 level.  If voted through by Parliament on Saturday, this Brexit deal will remove a major geopolitical risk for the whole world.  A good chunk of the gains however were erased on news that the DUP still will not support Johnson’s Brexit deal. 

Read More

About Article Author

Market Pulse

Established in 2006, MarketPulse is a free news site that provides full-time coverage of the world's largest financial markets, focusing on forex, commodities, and global indices research and analysis. Armed with a global team of securities analysts and strategists, Market Pulse provides timely, accurate, and informative research on major macroeconomic trends, technical analysis, and worldwide events that impact different asset classes and investors.

Related Items

Week Ahead – Phase-one trade deal and UK election aftermath

The US dollar remains at a critical juncture as Fed policy will be on hold for the foreseeable future and as we start to see an economic rebound come out of Europe. The world’s largest and strongest economy is likely to start to see economic growth slow in the fourth quarter, further cementing t ...

Oil prices climb as China confirms a deal on the text of a phase one trade deal with the U.S.

Oil futures climbed on Friday, with U.S. prices touching their highest levels since mid-September, after China said it has reached an agreement on the text of a phase one trade agreement with the United States. The lack of a trade agreement had been a major headwind to crude demand, but oil prices ...

Schedule for Week of December 15, 2019

The key economic reports this week are November Housing Starts, Existing Home Sales, the 3rd estimate of Q3 GDP, and November Personal income and outlays.For manufacturing, November Industrial Production, and the December New York, Philly and Kansas City Fed surveys, will be released this week.----- ...

The American Retirement Nightmare

Megan Leonhardt of CNBC reports that according to one economist, the system is ‘flawed’ when most Americans have little or no retirement savings:It’s no secret that Americans are falling short when it comes to saving enough for retirement. But as a new report shows, many are disastrously unpr ...

NXT Energy Solutions Inc. Issues Direction to Alberta Green Ventures Limited Partnership Regarding Loan Repayment

CALGARY, Alberta, Dec. 13, 2019 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTC QB:NSFDF) has issued a direction (the “Direction”) to Alberta Green Ventures Limited Partnership (“AGV”) to deliver for cancellation the number of common shares in ...

Smells like teen spirit

  By Guest Blogger Doug Rowat . Thank god my kids aren’t yet teenagers; however, my seven-year-old daughter is already asking for a cellphone, so I’m getting a sense of what’s in store for me. I’m probably doomed. So, for those of you who do have teenagers I won’t presume to offer advi ...

December 13, 2019

I had a stray thought today regarding the HSE.PR.C reset fiasco … if they calculated the rate in good faith as of November 29, why didn’t they announce the rate on November 29? But now it’s time for PrefLetter! HIMIPref™ Preferred IndicesThese values reflect the December 2008 revision of ...

Problems Solved?

Brexit and trade talks provided lots of uncertainty this year. Last week saw progress on both fronts. ...