Market Overview

Monday's Market Minute: Another Big Week Ahead…

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Monday's Market Minute: Another Big Week Ahead…

This week, earnings and geopolitical events will be the focus for traders and investors alike. With 24% of the S&P 500 companies reporting quarterly results this week, ecodata, the European Central Bank, and ongoing Brexit negotiations, markets are on edge.

First, Brexit talks are coming to a head. With just two weeks left until the departure date set for Oct. 31, the British Pound is indicating investors and traders feel the likelihood of a hard Brexit or a no-deal departure is becoming less likely. A series of recent votes have limited Prime Minister Boris Johnson’s ability to follow through on his hard-nosed departure rhetoric, it’s looking more and more likely we’ll see some sort of a request for a three-month extension. The Sterling has rallied off the 2019 low posted on Sep. 4 at 1.1965 to back above the 130 handle (levels we haven’t seen since mid-May), signaling a more optimistic tone.

We’ve seen progress on the U.S./China trade front as negotiators appear ready to ink a Phase 1 deal. In terms of ecodata this week here in the U.S., keep an eye on Durable Goods Orders on Thursday for further insight as to the health and well-being of the U.S. consumer. On Friday, Consumer Sentiment data will also provide further information.

Information from TDA is not intended to be investment advice or construed as a recommendation or endorsement of any particular investment or investment strategy, and is for illustrative purposes only. Be sure to understand all risks involved with each strategy, including commission costs, before attempting to place any trade.

Image Sourced from Pixabay

Posted-In: BrexitEarnings News Eurozone Global Markets ETFs General Best of Benzinga

 

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