U.K. Government Scraps Plans To Cut Taxes On Highest Earners

<p>"During earnings season more companies will attribute performance weakness to the U.S. Dollar strength. The U.S. economy contracted in the first and second quarters, which could indicate an upcoming recession. The U.K. just picked a new prime minister, Liz Truss, who promised to cut taxes. People have been talking about the U.K. as an emerging country due to the global sentiment. The market is expecting the Bank of England to hike interest rates by 150BPS in November," says Marc Chandler.</p>