Oil, and Brexit slowdown, stabilise US stocks

Wall Street shares are poised to start on the up for the second day in a row

Also boosting the markets was the oil price

Wall Street shares are poised to start on the up putting U.S. stocks on pace for a second positive day in succession.

On Tuesday, the Dow Jones lifted 270 points, or 1.6%, to 17,409 and the broader-based S&P 500 climbed 35 points, or 1.8%, to 2,036.

The Russell 2000 was also higher, gaining 27 points, or 1.6%, to 1,107, while the tech heavy Nasdaq rose 97 points, or 2.2%, to 4,691.

In futures today in the US, the Dow is seen 115 points higher; the Nasdaq up 27 and the S&P500 around 13 points to the good.

Worries over the Britain’s exit from the European Union are being deferred by the market, stabilising sterling and giving investor confidence.

In Europe, the FTSE 100 was powering north at lunch, as traders brushed fears aside as London markets and Euro stocks went higher.

The index of UK leading shares was up 2.18% or over 138 points at lunch, with traders looking for bargains as share prices around the world have tumbled.

Also boosting the markets was the oil price, which rose on Wednesday as slower production could lead to a supply fall.

Both the Brent crude and West Texas Intermediate price were up almost 1% to US$48.94 and US$48.29 respectively.

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