Business News

A bit of a Brexit hangover this morning,  European shares are starting to feel the effects from Friday's historic drubbing. According to Standard & Poor's, $2.08T of stock market value were wiped out across the globe in the previous session, marking the largest ever daily sell-off in dollar terms. Today's aftershocks are also weighing on U.S. equity futures and sent sterling down another 3.1%, as investors seek safety in gold and low-risk government debt. (SA)

Panama officially opened the addition to its sea canal on Sunday, capping a nine-year, $5.4B expansion project that will double shipping capacity and affect global trade routes. A third lane has been added to the waterway that can accommodate a new generation of super cargo ships large enough to carry up to 14K containers, compared with around 5K currently. (SA)

Finally, we'll end on a bit of positive news emerging from Europe today: Spain's ruling conservative popular party increased its vote share in the latest elections, bringing a boost to shares there and leading that market out of the red.  

S&P 500 futures are down 15 and NASDAQ futures are down 37.  The MSCI International Index is down just under 2%.  

Oil is down $.80 at $46.84 a barrel.

Gold is up $10 at $1333 a Troy ounce.

With Northwest Quadrant Wealth Management a Registered Investment Advisor I am Josh Fenili.

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