Posted in company, sectors, tickers

BREXIT

The U.S. fourth-quarter revised GDP is announced on Friday. No major advances are expected on the stock markets Thursday after flat trading in the second-lowest volume days of 2016 earlier this week.

Investors are betting an amount almost the size of Iceland’s economy on the British pound falling to levels at or below $1.3502, a 4% drop from current levels, after the BREXIT opinion poll on June 23. The drop is based on options bets of at least 11 billion pounds ($15.5 billion) so far this year, which would profit given such currency devaluation.

Among stocks to watch, Wal-Mart Stores Inc (WMT) opened higher Thursday, up +0.21% or $0.14 to $67.59, soon after the grocery and consumer items chain announced it is constructing by the end of 2017 its own dairy processing plant. The facility, expected to provide private-label white and chocolate milk, will be based in Fort Wayne, Indiana, to create 200 jobs.

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