Market Brief: Pound Pounded Ahead of Tomorrow’s UK Supreme Court Decision
![](/en-sg/-/media/research/global/2019/09/cifxbrief09232019.png)
- FX: The pound was the weakest major currency today ahead of the UK’s Supreme Court’s ruling on Parliament’s prorogation tomorrow morning; separately, the EU’s chief Brexit negotiator Michel Barnier said that there was “no basis for a deal.” The New Zealand dollar was the day’s strongest major currency.
- US data: Markit’s Manufacturing and Service PMI figures both came in near 51, signaling slow growth, though the Services employment component did drop into contractionary territory for the first time since 2010.
- Commodities: Both oil and gold gained about 1% on the day.
![](/en-sg/-/media/research/global/2019/09/cieqbrief09232019.png)
- US indices closed mixed in a generally quiet session as traders awaited new Brexit developments and more clarity in US-China trade tensions.
- Consumer Staples (XLP) were the strongest major sector on the day, while Health Care stocks (XLV) brought up the rear.
- Stocks on the move:
- Embattled online retailer Overstock.com (OSTK) dumped another -25% after the company revised down its guidance for Q3.
- Nike (NKE) gained 1% ahead of tomorrow’s after-the-bell earnings report.
![](/en-sg/-/media/research/global/2019/09/briefcal09232019.png)
Latest market news
Yesterday 01:32 PM
Yesterday 09:35 AM
Yesterday 07:23 AM
Yesterday 04:48 AM
Yesterday 12:17 AM
July 25, 2024 10:39 PM