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Market Brief: Pound Strong As Brexit Returns To The Forefront

Published 10/01/2019, 02:50 AM
Updated 07/09/2023, 06:31 AM
Daily % Candles

  • FX: The pound was the day’s strongest currency as the Conservative Party conference kicked off and the UK government reportedly finished the text of its Brexit proposal. The Swiss franc was the weakest and now may be breaking out against the US dollar.
  • Commodities: Both gold (-2%) and oil (-3%) fell today – see the key support levels we’re keeping an eye on for gold!
  • US Cash Indices % Change

  • US indices closed roughly 0.5% higher across the board on the final trading day of the quarter.
  • Technology (XLK)) was the strongest sector on the day, while Energy (XLE) was the weakest.
  • Stocks on the move:

  • The Blackstone Group (NYSE:BX) dropped -3% after announcing it would buy Colony Industrial.
  • Apple (NASDAQ:AAPL) gained 2% after a JP Morgan analyst raised his price target to $265. The stock’s market cap is once again above $1 trillion.
  • Shares of Chinese firms Alibaba (NYSE:BABA) (+1%) and Baidu (NASDAQ:BIDU) (+2%) gained after the US Treasury Department denied it was considering banning Chinese firms.
  • Tesla Inc (NASDAQ:TSLA) dropped -1% after a judge ruled the company engaged in unfair labor practices late on Friday.
  • Economic Calendar

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