Risk Appetite Sustained Post-Brexit Sell-Off
The major U.S. index futures are pointing to a higher opening on Wednesday, with sentiment reflecting the sustenance of risk appetite despite the Brexit vote. Risky bets such as commodities are higher. The currency space is showing strength for the euro and yen, but the U.S. dollar is higher against most other major currencies. Having digested the Brexit, European stocks are solidly higher for the second straight session. Domestically, personal income and spending data released a short while ago showed increases in both metrics. The momentum arising out of bargain hunting could help stocks further recover from their post-Brexit losses.
6/29/2016 4:18:55 PM Following the rebound seen in the previous session, stocks showed another substantial move to the upside during trading on Wednesday. With the gains on the day, the major averages further offset the sell-off seen following the Brexit vote.