After the amendment has passed, Johnson has reluctantly sent in a request to the EU to seek for a three-month extension to the Brexit deadline. However, he also sent a subsequent letter explaining why the UK government did not want an extension.
The idea behind this is to keep the pressure on UK lawmakers to agree on something at least before yet another extension.
Netflix shares climbed 10% higher on Wednesday after the company revealed it surpassed analyst expectations in the most recent quarter.
The company generated $5.42 billion in revenue, translating to $1.47 earnings per share, compared to the expected $5.25 billion and $1.05 EPS. Alongside financials, Netflix revealed it failed to meet subscriber growth expectations, adding only 6.7 million versus the 6.8 million that Wall Street analysts were looking for.
At first glance, a middle ground of UK and the EU is trying to land on in negotiations. Both sides moving closer towards a Brexit deal sounds good but the key giveaway is that it is a deal that is conditional on DUP support.
Boris Johnson has but two choices at the end of the day:
China's import and export data for September came in worse than expected amid the country's ongoing trade friction with the U.S., Reuters reported on Monday, citing the Chinese customs.
In U.S. dollar terms, China's exports fell 3.2% in September from a year ago, while imports dropped 8.5% during the same period, according to Reuters. The country's total trade balance in September was $39.65 billion, Reuters said.
The Fed Chair Jerome Powell's comments on Tuesday suggested that interest rate cut in October was not a done deal, though did little to influence firming market expectations of a third interest rate cut this year at the upcoming FOMC meeting on October 29-30.
Asian stocks are better bid with investors mulling the upcoming US-China trade talks.
after a week-long holiday the Shanghai Composite index is currently up 0.88%, having opened on a flat note. The futures on the S&P 500 are also reporting a 0.40% gain.
China has made clear that it wants to reach a partial trade deal and set out a timetable for the harder issues to be worked out next year.
Investors will favour euro over the pound in migration to the havens.
EURGBP is looking promising on a 'no deal traction as a base case as the end of month deadline looms'. EU not sure whether to make Johnson's last proposal workable and set to decide by the end of the week.
EURGBP to rally back above the post referendum, flash crash high of 0.9415 on a no-deal Brexit scenario.
PepsiCo (NASDAQ: PEP) is slated to report earnings with many expecting its snack business to continue to underpin performance.
The company recently has spruced up the snack business by adding healthier options.
In its second-quarter report, the beverage and snack maker said it expects its fiscal 2019 organic revenue to grow by 4% and adjusted earnings per share, assuming constant foreign currency exchange rates, to decline by 1%.
The U.S. dollar index inched up 0.1% even after a weak reading on American manufacturing added to concern about economic growth.
The report from the Institute for Supply Management showed the ISM's manufacturing PMI fell to 47.8, its lowest level in 10 years. The weak data sent U.S. stocks lower overnight while Asian equities also traded lower in morning trade today.
The USD/CNY pair was unchanged at 7.1477. Celebrations marking 70 years of Communist rule in China.
US President Donald Trump said that the country is getting "closer and closer" to a trade deal with China, adding that there is a "good chance" one could happen.
The US Dollar outperformed against its major counterparts, as the British Pound declined on the latest Brexit developments. While the UK Parliament is back in session, odds of a snap election have been on the rise after Prime Minister Boris Johnson's prorogation was cut short.
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