Summary for the 23rd of May 2019


The British Prime Minister, Theresa May, in an effort of trying to get her Brexit deal approved, has offered on Tuesday the UK lawmakers a new Brexit referendum. This has led to her losing even more support for her Brexit deal, and the leader of the House of Common, Andrea Leadsom, to quit the government.

If Theresa May’s Brexit deal is going to a vote for the fourth time, she most likely still won’t get enough vote, thus leading her to resign as the British prime minister. The possibility is also true that she will resign without a fourth Brexit deal vote.

A potential candidate to take over as the British prime minister is the pro-Brexit member of Parliament, Boris Johnson. If he becomes the new prime minister, the possibility of a hard Brexit will rise, even though most of the MPs are against a hard Brexit.

The FOMC minutes from the Fed meeting at the beginning of May shows that the board members still agree on keeping the target funds rate unchanged for now. The Chair of the Federal Reserve, Jerome Powell, at the press conference, says that the decline in the PCE inflation rate has been because of temporarily factors, like the financial service fees and clothing. Many of the FOMC board members supports this view. The FOMC also thinks that GDP growth has been surprisingly positive in the first quarter, but also the growth will most likely start to decline in the future.

Indices for 23.05.2019
Dow: -0.4% (22nd of May)
S&P 500: -0.3% (22nd of May)
Nasdaq: -0.5% (22nd of May)
Nikkei: -0.7%  (23rd of May)
Chinese indices: -1.6% (23rd of May)
STOXX Europe 600 Index: -1.42% (23rd of May)

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