Brexit: Weekend elections – ECB rate cut? (corrected)

Corrected: the Conservative Party elections timetable

The Brexit situation in the UK will move forward when the Tories had their elections for the next Prime Minister and party leader. The markets are considering Boris Johnson the likely winner to place the former Prime Minister Theresa May. The other candidate is foreign minister Jeremy Hunt.

The next UK Prime Minister, which name will be published during the beginning of this week, will lead the country out of the EU block, with or without a trade deal by the October 31st.

In the UK the sterling has decreased to its lowest levels in 2 years. The FTSE 100-index is trading up 0,45 % to 7542,86 points today.

The financial markets have seen the global interest rate easing starting this time in Asia. For example the South Korea and Indonesia have lowered their interest rates last week. Now the expectations are for the US Fed and European Central Bank, which is having its next meeting on July 25th. According to Reuters, markets are waiting for a 10-basis point cut with 60 % chance.

During this week there will be also earnings releases from Facebook (FB) on Wednesday and Alphabet (GOOG) on Thursday, as well as Amazon (AMZN)

Business Finance

Google and Microsoft – new video game streaming

Both big tech companies, Alphabet (GOOG:US)  with Google and Microsoft (MSFT:US), are on their way to build new video game streaming services for their customers. Google has “Project Stream” as a beta-version and Microsoft “Project XCloud” service. The idea in both of the services is to enable customers easy and working access to video game streaming.

-Scaling and building out Project xCloud is a multi-year journey for us. We’ll begin public trials in 2019 so we can learn and scale with different volumes and locations. Our focus is on delivering an amazing added experience to existing Xbox players and on empowering developers to scale to hundreds of millions of new players across devices, Microsoft comments.

Tech side is also experiencing a new event from Apple. According to company news, Apple (AAPL:US)  is having a new event at the end of October, 30th October, in New York. It is expected to cover news related to iPads and Macs.

Tech stocks have been performing well this year in the Wall Street and according to Bloomberg, Google´s one year return has been 8,78 percent, Microsoft´s 42,07 percent and Apple´s 36,88 percent.

 

Lifestyle Tech