Pound and Euro Gain on Draft Brexit Agreement - Adviser Investments

Pound and Euro Gain on Draft Brexit Agreement

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, November 13. Major U.S. stock indexes saw mixed results, with the Dow Jones Industrial Average and S&P 500 down 0.4% and 0.2%, respectively, and the NASDAQ seeing fractional gains. Oil prices fell 7% to close at less than $56/barrel, extending what was an already record-breaking losing streak to 12 consecutive sessions. Meanwhile, the pound and the euro both rose—around 0.9% and 0.4%, respectively—after negotiators from the United Kingdom and European Union announced a “technical level” Brexit agreement.

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