U.S. economy holds steady in September amid global slowdown concerns
MONTHLY MARKET COMMENTARY |
U.S. equities gained on strong employment and retail sales data, suggesting that the U.S. economy is holding steady amid concerns of global slowdown and faltering manufacturing activity. The Federal Reserve voted to cut interest rates by 0.25 percentage points for the second time this year to cushion the economy against declines augmented by the U.S.-China trade war.
United Kingdom equities gained ahead of the Oct. 31 Brexit deadline as U.K. courts ruled that Prime Minister Boris Johnson’s suspension of Parliament was illegal. Johnson is now facing calls to resign, in addition to the lower probability that he would be able to win the two-thirds majority for general re-election.