Wednesday, 23 October 2019

Markets mixed, as are corporate earnings and Brexit news

Markets were mixed on Tuesday.

The S&P 500 fell 0.4 percent but the Shanghai Composite rose 0.5 percent and the STOXX Europe 600 rose 0.1 percent.

US stocks were weighed down by worse-than-expected third-quarter results from McDonald’s and Traveler Cos.

“Earnings have been mixed, but I still believe they’re going to surprise to the upside,” said Ken Engelke, chief economic strategist at Capitol Securities Management.

Brexit remained in the spotlight, with the UK parliament agreeing on Tuesday to consider Prime Minister Boris Johnson’s plan for leaving the European Union but rejecting his aggressive deadline for approving it.

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