The Breakfast Briefing: Global Stocks Waver As Brexit, Growth Concerns Linger

Ted

FYI: Global stocks wavered on Wednesday as concerns around global growth weighed on investor sentiment and an impasse in the U.K. on a Brexit deal rippled across the European market.

The Stoxx Europe 600 was up 0.1% in early morning trading. U.S. futures pointed to opening losses of 0.5% for the Dow Jones Industrial Average of and 0.1% for the S&P 500.

Asian stocks were mostly lower with the Shanghai Stock Exchange down 1.1%, Hong Kong’s Hang Seng Index dipping 0.4% and Japan’s Nikkei dropping 1%.

In Europe, investors were digesting news from London overnight, where British lawmakers rejected a Brexit deal. Parliament is now set to vote on Wednesday on whether a hard Brexit, where the country barrels out of the EU without an agreement at the end of the month, must be avoided.
n Europe, investors were digesting news from London overnight, where British lawmakers rejected a Brexit deal. Parliament is now set to vote on Wednesday on whether a hard Brexit, where the country barrels out of the EU without an agreement at the end of the month, must be avoided.

The British pound was up 0.5% on the dollar and the euro Wednesday, following a 1% drop on Tuesday after the U.K.’s attorney general said Prime Minister Theresa May’s revised Brexit deal didn’t eliminate the risk that the U.K. would be stuck in a customs union with the bloc.

The U.K.’s FTSE 100 index, which is dominated by large international businesses, as well as its FTSE 250 were both nearly flat.

The WSJ Dollar Index, which tracks the dollar against a basket of 16 currencies, was broadly flat on Wednesday.

The 10-year U.S. Treasury edged up to 2.616%, from 2.605% on Tuesday. Yields move inversely to prices.

Elsewhere in commodities, global benchmark Brent crude oil was up 0.3% at $66.84 a barrel.
Regards,
Ted
MarketWatch:
https://www.marketwatch.com/story/stock-market-poised-for-tepid-rise-but-dow-remains-under-pressure-amid-boeing-737-8-woes-2019-03-13/print

WSJ:
https://www.wsj.com/articles/global-stocks-waver-as-brexit-growth-concerns-linger-11552467217

Bloomberg:
https://www.bloomberg.com/news/articles/2019-03-12/asia-stocks-set-for-mixed-start-pound-declines-markets-wrap?srnd=premium

IBD:
https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-apple-stock-microsoft-google-stock-market-ipo-stock/

CNBC:
https://www.cnbc.com/2019/03/13/stock-markets-us-markets-focus-on-political-uncertainties-brexit.html

Europe:
https://www.reuters.com/article/us-europe-stocks/european-shares-flat-as-brexit-impasse-sinks-in-idUSKBN1QU0YI

Asia:
https://www.marketwatch.com/story/asian-markets-lower-amid-weight-of-global-uncertainties-2019-03-12/print

Bonds:
https://www.cnbc.com/2019/03/12/bonds-treasury-yields-move-higher-amid-optimism-over-brexit-deal.html

Currencies:
https://www.cnbc.com/2019/03/13/forex-markets-pound-moves-brexit-negotiations-in-focus.html

Oil:
https://www.cnbc.com/2019/03/13/oil-markets-saudi-oil-exports-us-inventory-in-focus.html

Gold:
https://www.cnbc.com/2019/03/13/gold-markets-dollar-moves-and-brexit-in-focus.html

Current Futures:
https://finviz.com/futures.ashx

Old_Skeet

@Ted: Thanks for the morning briefings. They are appreciated. Skeet

Ted

@Old_Skeet: Thanks, I put a lot of time putting together the various news sources and editing the Breakfast Briefing and the Closing Bell.
Regards,
Ted