trending Market Intelligence /marketintelligence/en/news-insights/trending/wWFw4QKCK__kLIomqqnvKw2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Stocks cheer Brexit deal; pound reverses gains as deal fate uncertain

Mining Exploration Insights - October 2020

Linking Climate Transition Risks and Credit Risks

US Operators Bolster Downward Trajectory for US Cable Capex Forecast

CUSIP Requests Surge in September Led by Higher Corporate and Municipal Totals

Stocks cheer Brexit deal; pound reverses gains as deal fate uncertain

US equities, European stocks rise following Brexit deal.

➤ China, US working on phase one of trade deal.

Dollar, Treasurys retreat.

➤ Australia dollar gains 1% as unemployment rate falls.

U.S. and European stocks cheered the Brexit deal announcement, though uncertainty about whether the deal will be ratified by U.K. Parliament reversed gains for the pound, which hit its highest level since May earlier in the day.

The S&P 500 gained 0.5% around 9:30 a.m. ET. The FTSE 100 rose 0.8% and Germany's DAX gained 0.4%, while France's CAC 40 was little changed.

EU Commission President Jean-Claude Juncker and British Prime Minister Boris Johnson announced a Brexit deal, paving the way for a vote in U.K. Parliament this weekend.

But continued opposition from Northern Ireland's Democratic Unionist Party, which props up Johnson's minority government and earlier in the day refused to back customs and consent proposals, raised uncertainty over Parliament's approval.

In the U.S., Morgan Stanley reported higher investment banking and sales and trading revenues for the third quarter, compared to the same quarter of 2018. Philip Morris International Inc. revised its 2019 full-year EPS forecast

Following the release of disappointing retail sales data, the latest Beige Book showed the U.S. economy grew at a "slight to modest pace" in recent weeks, though the manufacturing downturn continued. The data sets came as Fed officials weighed whether they should cut interest rates at their next meeting, scheduled for Oct. 29-30.

On the trade front, Beijing said it hopes to reach a partial trade agreement with Washington as soon as possible, following confirmation from U.S. Treasury Secretary Steven Mnuchin that the two sides were working on phase one of the deal.

Asian exchanges were largely down as Hong Kong's Hang Seng advanced 0.7% while Japan's Nikkei 225 and the Shanghai SE Composite slipped 0.1% each. In its latest projection, S&P Global Ratings maintained its growth forecast for China for 2019 but lowered its estimate for 2020.

Sterling reversed gains to trade unchanged at about $1.2826, having topped $1.29 earlier on the Brexit deal news.

Elsewhere, the Australian dollar appreciated 1% against its U.S. counterpart as data showed the unemployment rate ticked down to 5.2% in September from 5.3% in the prior month.

The dollar index declined 0.3%. The Japanese yen rose 0.1% against the U.S. currency and the euro rose 0.5%.

In bond markets, U.K. bonds gained, with yields on 10-year Gilts falling 1 basis point to 0.699%. Gilts had sold off after Brexit deal news. Ten-year Treasury yields added 1 basis point to 1.756%. Yields on German bunds with the same maturity slipped 1 basis point to negative 0.389%.

In commodities, Brent crude lost 0.6% to $59.04 per barrel on the ICE Futures Exchange. Gold reversed gains to trade nearly flat.

More from S&P Global Market Intelligence:

Wall Street now 'inundated' with direct listing inquiries

Study: Female execs generated higher profit, stock price returns than male peers

Facebook's Libra must define financial activities, Fed Governor Brainard says

CLO equity investor not losing sleep over exposure to asset class

The day ahead:

10:30 a.m. ET – U.S. EIA Natural Gas Report

11 a.m. ET – U.S. EIA Petroleum Status Report

2 p.m. ET – U.S. Fed's Michelle Bowman speaks

2 p.m. ET – U.S. Fed's Charles Evans speaks

4:20 p.m. ET – U.S Fed's John Williams speaks

4:30 p.m. ET – U.S. Fed Balance Sheet and Money Supply

7:30 p.m. ET – Japan CPI (Econoday consensus: 0.3% annual)

10 p.m. ET – China GDP (Econoday consensus: 6.1% annual)

10 p.m. ET – China Industrial Production (Econoday consensus: 5.0% monthly)

10 p.m. ET – China Fixed Asset Investment (Econoday consensus: 5.4% YTD)