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Today's Market Fundamentals
Friday was dominated by the resignation of PM May which is set for 7 June, although she will stay on in a caretaking capacity until such time as a new prime minster is selected in Mid-July. I am not sure that this changes the Brexit equation just yet as the EU have not shown any indication that they are willing to change their stance much. Trading will centre on the odds of the new leader, the early favourite is Boris Johnson – although British politics has a history of favourites losing at the polls.
The trade impasse between the US and China persists with neither side ready to budge just yet, at this point the Chinese are scrambling to boost development of small tech companies – a direct result of the sanctions this last week. Both sides probably have a lot of firepower at their disposal but ultimately I believe that the two parties will realize that they actually need each other more than they think – ultimately I believe a deal will be struck – the question is at what cost will the deal come.
Today's Market Trading Levels
1. USTECH BUY 7285 – 7250
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