Volatility Index VIX Chart The Fed is expected to hold interest rates steady, but it is also expected to issue a new forecast with fewer rate hikes and a slower economy. The Fed also is […]
Investors continue to monitor remarks out of Washington and Beijing on trade negotiations
U.S. stock index futures were little changed early Wednesday as investors continued to monitor political and economic uncertainties across the globe. At 6:30 a.m. ET, Dow futures implied an open of less than 5 points. Futures on S&P 500 and Nasdaq were also relatively flat.
Britain said on Wednesday it would eliminate import tariffs on a wide range of goods and avoid a so-called hard border between Ireland and Northern Ireland in the event of a no-deal Brexit. The government announced the moves, which it said would be temporary, ahead of a vote by lawmakers later on Wednesday on whether Britain should leave the European Union without a deal, a prospect that alarms many employers with the scheduled March 29 Brexit date fast approaching.
European Commission head Jean-Claude Juncker agreed to additional assurances in an updated Brexit deal with British Prime Minister Theresa May on Monday, but warned UK lawmakers would not get a third chance to endorse it. Sterling, which had risen ahead of the talks between May and Juncker, extended gains in hopes the changes may be enough to sway rebellious British lawmakers who have threatened to vote down May’s plan again on Tuesday.
Boeing Co, the best performing Dow component this year by a wide margin, dropped 6.7 percent after many airlines grounded the company’s new 737 MAX 8 passenger jet. Helping markets gain ground was the heavyweight Dow component’s stock bouncing off its session lows, while the Dow Jones Airlines index reversed course to trade 0.34 percent higher.
More than 275 financial firms are moving a combined $1.2 trillion in assets and funds and thousands of staff from Britain to the European Union in readiness for Brexit at a cost of up to $4 billion, a report from a think tank said on Monday. UK lawmakers are due to vote on Tuesday on an EU divorce settlement. But with less than three weeks to go before Brexit day on March 29, it is still unclear whether the deal will be approved, whether departure from the EU will be delayed, or whether it will happen without agreement.