Market Headlines – 8/12/2017

US

• US. stocks rose as investors evaluated the outlook for a final tax bill, while the dollar advanced for a fourth day and oil rebounded from its worst selloff in two months.
• The S&P 500 ended a four-day losing streak, rising 0.3%, with industrial and consumer discretionary shares among the best performers in a modest but broad rally that saw two stocks gain for every one that dropped.
• In economic news, market focus today will be on the release of the latest non-farm payrolls number for an indication on the health of the labour market.

Europe

• European stocks gained 0.3%, as gains in telecommunication firms offset a slump in health-care companies.
• In Brexit news, the U.K. and the European Union struck a deal to unlock divorce negotiations, opening the way for talks on what businesses are keenest to nail down — the nature of the post-Brexit future. Prime Minister Theresa May came to Brussels with an offer: a financial settlement, an agreement on Europeans living in the U.K. and a solution for keeping open the border that divides the island of Ireland after the split.

Asia

• In Asia overnight, Japanese shares gained 1.4%, rising for a second day as shares of exporters advanced after the yen weakened. Japan’s economy expanded more than initially stated in the third quarter as business investment grew at a faster pace, according to the latest government report.
• Chinese shares gained 0.5%, while trade data from China showed exports unexpectedly jumped last month.