Smile With the Risin’ Sun: Dow Gains 150 Points as Brexit Fears Diminish, Weak Data Ignored

Stocks are heading higher following yesterday's big gains as reduced Brexit risk trumps weaker-than-expected U.S. services data. The S&P 500 has risen 0.6% to 2,089.37, while the Dow Jones Industrial Average has gained 150.39 points, or 0.9%, to 17,856.44. The Nasdaq Composite has advanced 0.5% to 4,886.80. Capital Economics global economist Michael Pearce contends that Brexit is "not a major threat to world trade." He explains why: