Pound Strong Again Amidst Ongoing Brexit Drama

Published 09/10/2019, 03:12 AM
Updated 07/18/2024, 03:38 AM
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  • FX: It was another day of drama in London, including Speaker Bercow announcing his resignation, but at the end, the pound was the strongest major currency. Safe haven currencies like the Japanese yen and Swiss franc.
  • Commodities: Gold edged about 0.5% lower on the day, while oil surged nearly 3% to a 1-month high.
  • US Cash Indices% Change

  • US indices closed mixed in relatively quiet trade.
  • Energy (XLE) and Financials (XLF) were the strongest major sectors; Technology (XLK) brought up the rear.
  • Stocks on the move:

  • AT&T (NYSE:T)rallied more than 1% on news that activist fund Elliott has taken a stake in the company and is pushing for a breakup.
    • Cloud software stocks like Slack (WORK, -9%), Zoom Video Communications (ZM, -8%), and Twilio (TWLO, -10%) all fell sharply as investors questioned their elevated valuations.

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