Market News & Analysis
Market Brief: Sterling Strong, Stocks Shrug Off Starting Struggles
Matt Weller, CFA, CMT November 19, 2019 8:05 AM
View our guide on how to interpret the FX Dashboard.
- Fed Chairman Powell had an unscheduled meeting with President Trump and Treasury Secretary Mnuchin at the White House this morning; both sides claim the meeting went well and did not discuss the impact of politics on central bank policy (we’re skeptical).
- FX: The pound was the strongest major currency on the day (see here and here for more), while the Australian dollar brought up the rear.
- Commodities: Oil shed over 1.5% on the day while gold was essentially flat. Cryptoassets saw a quick dip across the board after market leader bitcoin broke below previous support near $8350.
- US indices closed essentially flat at record highs after shrugging off trade deal worries this morning.
- Consumer Staples (XLP) were the strongest sector today; Energy (XLE) brought up the rear on the back of falling oil prices.
- See the key storylines and trends we’ll be watching this week!
- Stocks on the move:
- See our full preview for this week’s run of US retailers!
- Nvidia (NVDA) tacked on another 4% as traders continued to digest last week’s strong earnings report.
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