Net worth tracking
Login Sign Up
Become a Premium Member
  • All Opinions
  • Top Picks
  • Experts
  • Companies
  • Discover
Watch List
Home » Daily

UK Tories win, US and China agree to phase one, but markets mixed

Allan Tong Posted On December 13, 2019
0
0
Shares
  • Share On Facebook
  • Tweet It


This week, you missed Past Top Picks comments by Teal Linde including Air Lease (A Top Pick Dec 10/18, Up 27%) Get Premium to receive all past top picks opinions a few hours before market open.
Get Premium

This may be the pivotal week of 2019. Thursday night, Boris Johnson’s Conservatives won a majority in the U.K. election, which amounted to a second referendum on Brexit, three-and-a-half years after the first. The UK pound spiked and FTSE closed Friday up 1.3%. Now, Johnson has enough seats to push his legislation through the British parliament and to finally exit the E.U. by January 31.

Meanwhile, both China and America confirmed that they had agreed to phase one of a trade deal and that Sunday’s tariffs were now off the table. A report late-Thursday actually excited after-hours traders, but a Trump tweet early Friday, denying he was rolling back tariffs, erased gains in the futures. Only when China confirmed phase one at a news conference at 10:00 am E.S.T. Friday did markets get their confirmation.

But China as well as Trump offered no details, just confirmation that phase one was reached. The S&P and Down actually closed flat, though the Nasdaq made a record close. In fact, the TSX closed higher, up half-a-point and crossing 17,000. Two of the biggest gainers were Power Corp. and Power Financial. The Desmarais brothers announced they were stepping down as co-CEO’s of Power Corp. and merging their asset management and insurance businesses. PWF shot up 9.92% and POW by 7.9%, but neither has regained its heights before the 2008 recession.

🏛 Power Corp +7.90%
🏛 Power Financial Corp +9.92%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Royal Bank, Canopy Growth Corp. and More Earnings Reports this Week (May 23-27)
Melisa R. H. May 23, 2022
Target Corp, Inc, Visa Inc. and 18 Stock and 3 ETF Top Picks (May 13-19)
Melisa R. H. May 20, 2022
You may also like
Stocks Exposed to China: Buy These 2 Stocks; Sell This 1 Stock
February 4, 2020
Coronavirus Stock Market Scare: What Stocks to Buy?
January 28, 2020
New York markets hit record highs, Cineplex sold
December 16, 2019
Read Next

New York markets hit record highs, Cineplex sold

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
  • Popular Posts

    • Royal Bank, Canopy Growth Corp. and More Earnings Reports this Week (May 23-27)
    • Target Corp, Inc, Visa Inc. and 18 Stock and 3 ETF Top Picks (May 13-19)
    • Birchcliff Energy Ltd., Cardinal Energy Ltd and More at 52-week Highs & Lows (May 11-17)
    • Summer stocks fun or summertime blues? 3 stocks to consider this summer
    • 3 fast food stocks to buy this summer
  • Stock Lists

    • Summer stocks fun or summertime blues? 3 stocks to consider...
      May 17, 2022
    • 3 fast food stocks to buy this summer
      May 10, 2022
    • Are mega tech stocks still alive?
      May 3, 2022
    • 3 Consumer Stocks for Summer
      April 26, 2022
    • 3 Booming Resource Stocks: Fertilizer and Natural Gas
      April 19, 2022


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search