The Brexit could have big implications for the global economy and U.S. stocks. Add to this the annual rebalancing of the FTSE Russell indexes, set to go into effect a day after the vote, and it makes for a busy trading week.
Friday could be the busiest trading day of the year as fund managers adjust their positions to that rebalancing.
Should the British vote to leave the EU, U.S. shares could fall sharply, but a "Remain" vote won't necessarily result in a big rally, because domestic economic worries may be capping U.S. stocks.
Dow Jones: 17,675.16; -57.94; -0.33%
S&P 500: 2,071.22; -6.77; -0.33%
Nasdaq: 4,800.34; -44.58; -0.92%
While everyone was talking tech and the Brexit, big news happened in China today that didn't involve Apple Inc. (Nasdaq: AAPL). Today, the second-largest economy in the world held an event to celebrate the arrival of the Model X by Tesla Motors Inc. (Nasdaq: TSLA).
UK citizens and politicians held off campaigning on the Brexit after a British Member of Parliament was murdered in northern England yesterday.
The vote is scheduled for June 23; however, the death of the Jo Cox, a supporter of the effort to remain in the EU, is certain to reverberate across the UK. Here's everything you need to know about the Brexit, the European Union, and the participants in this debate.
Meanwhile, the U.S. housing market saw some mixed data today. New home construction slipped 0.3% in May, as volatility in the sector continues to weigh on broader economic sentiment.
Reference: Reuters, Money Morning
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