A Scottish court ruled that UK PM Boris Johnson will not be forced to order a Brexit extension under the Benn Act – see our analysis of the decision and the key Brexit dates to watch in the coming weeks!China is reportedly ready to sign a limited trade deal with the US, but refuses to discuss intellectual property concerns, a key US demand. Separately, President Trump signed a trade deal with Japan. FX: The Swiss franc was the strongest major currency on the day, while the risk-sensitive Aussie brought up the rear. The Swedish krona broke sharply lower against both the US dollar and the euro as traders soured on their hawkish outlook for the Riksbank. Commodities: Gold shed -1% on the day; oil ticked slightly higher.See the key economic reports and market trends we’ll be watching in the coming week! 08.10.2019
US indices closed marginally lower in a day of choppy, headline-driven trade.Communications Services stocks (XLC) were the strongest sector on the day. Consumer Staples (XLP) brought up the rear. Stocks on the move:
- General Electric (GE) traded flat after announcing it would freeze pensions for 20k workers.
- Uber (UBER) rallied 3% after analysts at Citi upgraded their outlook for the ride-sharing platform.
- Recent IPO SmileDirectClub (SDC) dropped -8% in follow-through selling after Friday’s critical report from prominent short seller Hindenburg Research.
Original from: www.forex.com