The UK stock-market was higher this week
- UK and European stock-markets were higher this week on increasing optimism that the Trump administration will pass new stimulus measures.
- Coronavirus cases increased again in the UK and the Prime Minister Boris Johnson is due to announce new restrictions on Monday.
- The UK and the EU continued their meetings to resolve the stale-mate on their post-Brexit relationship.
The deadline for an outline of a deal is set for later this coming week; fishing rights remain a major obstacle.
- Our Breadth Indicator turned positive but our Momentum indicator stayed negative this week.
The US stock-market was higher this week
- The US stock-market was strongly higher this week with small-caps out-performing.
- On Tuesday, equities closed sharply lower following President Trump’s tweet that he would end negotiations on a new fiscal stimulus package. Trump said he had instructed his administration’s negotiators to stop stimulus discussions with Democrats until after the Nov.3 presidential election. Markets more than recovered after the President later began tweeting positive messages, raising hopes that an aid package could in fact be agreed. Negotiations over the new stimulus deal will again be in focus this coming week.
- Our Breadth Indicator turned positive this week but our Momentum Indicator, although still positive, ticked down again.
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