• U.S. stocks rebounded this morning, after two days of steep losses in the wake of last week’s referendum. Per MarketWatch, the S&P 500 index SPX, +1.23% added 23 points, or 1.2% to 2,024, led by energy and financials.
• After losing 900 points in the last two days, the Dow jumped 200 points, or 1.1%, to 17,337.
• The Nasdaq Composite Index COMP, +1.71% added 70 points, or 1.5% to 4,664.
• U.K. Prime Minister David Cameron is meeting today with the other 27 EU nations in what’s sure to be an uncomfortable summit. To set the mood, German Chancellor Angela Merkel is already warning the Brits that the U.K. can’t “cherry pick” its way out of the EU.
• The main opposition party, the Labour Party, is holding a no-confidence vote today on leader Jeremy Corbyn, who has been blamed for his weak support of the Remain side prior to the referendum.
• One of the unexpected losers of Brexit? Vietnam, which is extremely dependent on trade with the U.K., as illustrated in this chart from the Daily Shot newsletter.
• Of course Queen Elizabeth II was asked about Brexit and replied in a typically British manner: “Well, I’m still alive,” the 90-year-old monarch quipped.
• England’s soccer team getting bounced out of the Euro 2016 tournament, losing 2-1 in a stunning upset to Iceland, Europe’s smallest country, was seen as a metaphor for Brexit. Fans left with a sense of humor started a petition calling for a do-over:
— Zahra Hankir (@ZahraHankir) June 27, 2016