The second half of October was a positive one for investors as third-quarter earnings season showed most companies reporting better than expected results, Brexit was postponed, the US and China progressed with their trade deal, and the Fed cut the interest rates again. After having announced a “phase one” trade deal, the US and China continued to work out the details with some degree of success as trade negotiators from both countries continue their talks and expect an agreement to be signed in November.
There were also some updates regarding Brexit as the UK and the EU managed to figure out a new deal. However, before the deal was approved, the British Parliament voted to request Prime-Minister Boris Johnson to ask for another delay, which the EU granted, postponing the UK’s leave of the bloc until January 31. In the meantime, the UK is expected to hold a general election in December.