New draft Brexit deal is reached

Posted on October 17, 2019

Dow futures indicating a positive open of more than 100 points. Prior to the Brexit reports, futures had been trading flat to lower. Futures on the S&P and Nasdaq were also higher.

Markets rallied on the Brexit reports, as the deal removed some investor uncertainty amid heightened concerns about the health of the global economy. On Wednesday, unexpectedly weak U.S. retail sales data fueled fears about a possible recession.

Global economic data points to slower growth, while the U.S. manufacturing sector is already contracting. Among the greatest of the worries plaguing markets is the ongoing U.S.-China trade war.