Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

Market Brief: Brexit Optimism Boosts GBP, U.S. Indices Pull Back

Published 08/28/2019, 01:27 AM
Updated 07/09/2023, 06:31 AM
Daily % Candles

  • FX: Potentially positive signs on Brexit made the pound the strongest major currency on day. The kiwi brought up the rear.
  • US Cash Indices % Change

  • US indices closed marginally lower in “dog days of Summer” trade (see more on the S&P 500 here). Yield curve inversions were the story of the day, with the 2s10s inverting on a closing basis and the 30-year Treasury yield falling below that of the 3-month tenor for the first time in 12 years.
    • Utilities (Utilities Select Sector SPDR (NYSE:XLU)) were the strongest sector today while Energy stocks (XLE (NYSE:XLE)) were the weakest.

  • Stocks on the Move:

  • Altria (NYSE:MO, -4%) and Philip Morris International (NYSE:PM, -7%) are reportedly in talks to merge after separating back in 2008.
  • Costco Wholesale (NASDAQ:COST) rallied 5% after opening its first store in China. It took some customers up to three hours to park and the store had to close early due to the massive crowds.
    • Johnson & Johnson (NYSE:JNJ) rose 2% on a smaller-than-feared $572M fine for the firm’s role in fueling the opioid epidemic.

    • Snap Inc (NYSE:SNAP) dropped 4% on news that rival Instagram was working on a new messaging app called Threads for close friends and family.

    *No major macroeconomic data is scheduled for release in the upcoming Asian session.*

    Original Post

    Latest comments

    Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
    Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
    Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
    It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
    Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
    © 2007-2024 - Fusion Media Limited. All Rights Reserved.