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IPFS News Link • United States

US Futures Rally As Trade Deal, Brexit Optimism Return Despite Prevailing Chaos

•, Tyler Durden

Global markets started off the new week, the second busiest in Q3 earnings season, on the front foot, with MSCI's world equity index rising 0.2%, with the broad Euro STOXX 50 adding 0.4%, led by mining and banking shares. Major European bourses are modestly firmer after risk sentiment turned more constructive following AsiaPac indecisiveness, during which the latest developments (or lack thereof) on the Brexit front and the PBoC's decision not to cut Loan Prime Rates contributed to the cautious tone. The FTSE 100 (+0.1%) lags amid a stronger Pound on hopes that the worst possible Brexit outcomes are off the table and that PM Johnson may have enough backing for his Brexit deal. Sectors are mostly in the green, apart from defensives, with Consumer Staples (-0.6%), Health Care (-0.5%) and Utilities (-0.2%) all lagging on improved risk appetite.

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