Federated Investors CIO Steven Auth discusses his outlook for the markets amid earnings season and trade negotiations with China.
U.S. equity futures have turned around and are moving higher after a tweet by British Prime Minister Boris Johnson saying that a Brexit deal had been reached.
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European Union and British negotiators have agreed on an outline Brexit deal which still needs to be backed by EU member states and by the respective parliaments.
European Commission President Jean-Claude Juncker tweeted “We have one! It’s a fair and balanced agreement for the EU and the UK and it is testament to our commitment to find solutions.”
Juncker said he would recommend the 27 EU nations to endorse the deal during their summit later Thursday.
The three major futures indexes are indicating a rise of 0.4 percent.
Shares of Netflix rose 10 percent in extended trading after the streaming service saw a slowdown in new subscribers that wasn’t as bad as analysts expected.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 286.28 | +2.03 | +0.71% |
More financial names will be reporting on Thursday including Morgan Stanley, BB&T Corp., SunTrust and Key Corp.Other names on the docket are Honeywell, tobacco giant Philip Morris International and railroad Union Pacific.
On Wednesday, Treasury Secretary Steven Mnuchin told reporters that officials were still ironing out details of the preliminary trade agreement between the U.S. and China.
President Donald Trump has said he does not expect to sign an agreement until next month, when he is due to meet with Chinese President Xi Jinping at the regional Asian Economic Cooperation, or APEC, forum in Chile in November.
U.S. stocks slipped Wednesday as economic data suggested consumers were holding back on spending in the face of trade tensions and a global economic slowdown.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 27001.98 | -22.82 | -0.08% |
| SP500 | S&P 500 | 2989.69 | -5.99 | -0.20% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8124.183658 | -24.52 | -0.30% |
The S&P 500 index lost 0.2 percent, the Dow Jones Industrial Average dropped 0.1 percent and the Nasdaq fell 0.3 percent.
In Asia, Hong Kong’s Hang Seng index added 0.4 percent, Tokyo’s Nikkei 225 index lost 0.1 percent while the Shanghai Composite index slipped 0.2 percent.
The Associated Press contributed to this article.
