US equity futures were marginally in the red, while Asian markets rose and European stocks dropped. WTI oil rose 0.6% to $42.79 as some suggest the time to go long has arrived; oil tumbled 2.3% in the previous session. The Bloomberg Dollar Spot Index fell 0.1 percent.
Here are the main market developments while you were sleeping.
In an eventful overnight session which saw a historic transition in Saudi Arabia, an unexpected Republican victory in the Georgia Special Election, China's inclusion in the MSCI EM index and Travis Kalanick's resignation, S&P futures continued to fall, alongside stock markets in Asia and Europe, while oil prices extended their drop despite a larger than expected draw reported by API on Tuesday.
Authored by Ann Pettifor via RenegadeInc.com,
Britain is preparing to leave the European Union with no real plan and a government in disarray, writes economist, Ann Pettifor. How can we trust economists at the Treasury not to impose more disastrous policies?
If the British economy crashes as a result of Brexit, it will not vindicate economists. It will simply illustrate once again, their failure.
A day after Brexit negotiations officially began, and seemingly unable to get over the result of democracy, George Soros is once again rattling his op-ed sabre, proclaiming the ignorance of British 'brexit' voters is about to get its come-uppance...
Economic reality is beginning to catch up with the false hopes of many Britons.