The global markets experienced a significant upswing during the abbreviated Christmas trading week, with price increases observed across various sectors. This positive trend, tracked through a series of ETFs representing major asset classes, marks another chapter in a remarkable year of growth. As we approach the end of 2019, it appears that gains across the board will continue until the last trade concludes.
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The United States military conducted strikes against Iran-backed militia forces in both Iraq and Syria: USA Today
Iraqi militia leaders vow to retaliate in response to these attacks: Reuters
Trump’s tweets naming the alleged whistleblower have sparked fresh controversy: BBG
Democrats are attempting to diminish Trump’s economic success narrative in Iowa: NY Times
US wages are rising at the swiftest rate in over a decade: WSJ
China is increasing lending as a risky move to support small business financing: FT
Japan’s stock market has emerged as a leading regional performer as 2019 draws to a close: CNN
Extreme poverty has been halved globally over the past decade: Axios
However, signs indicate that the US manufacturing rebound may be losing momentum, as suggested by regional Federal Reserve indexes:
Following the previous week’s first part featuring notable books highlighted in The Capital Spectator’s Book Bits column for 2019, here’s the second half of this highly subjective list. Cheers!
All major sectors of US equity factors are showing considerable gains this year, with the so-called quality screen (stocks exhibiting strong fundamentals) leading the charge, facilitated by a range of exchange-traded funds. Shortly behind are large-cap shares.
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The Philippines has banned two US senators and is considering restricting visa access for Americans: Bloomberg
The US has issued warnings to China regarding possible coercion against Taiwan: SCMP
An ECB policymaker states that a return to positive interest rates is unlikely in 2020: Reuters
Netanyahu’s party vote victory comes just ahead of a likely election in March: Reuters
Syria’s advancing military in the northwest is resulting in a mass exodus: LA Times
Japan will dispatch a destroyer to the Middle East for intelligence gathering: Japan Times
Is the decline of the US-China trade war becoming evident? Not for books, however: NY Times
Amazon announces record-breaking holiday sales: WSJ
US jobless claims have continued to decrease following a recent spike: CNBC
Recent economic reports reveal that US growth is maintaining a steady, moderate pace during the fourth quarter. However, a lot can transpire before January 30, when the government will release its preliminary Q4 GDP report. Current data suggests that growth will be comparable to Q3’s growth of 2.1%.
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Holiday spending in the US has increased, driven by record-high e-commerce sales: Reuters
China’s new aircraft carrier was recently maneuvered through the Taiwan Strait: Reuters
A GOP senator expressed concern over McConnell’s ‘coordination’ with the White House: Politico
Birth rates in Japan have fallen to their lowest level since 1874: NY Times
The long-term trend of secular inflation is expected to decline: Vanguard
The Richmond Fed Manufacturing Index indicates sector activity declined for the second consecutive month in November: RF
Gold is currently trading above $1500, reaching a seven-week high: Bloomberg
This Christmas season has arrived early at the The Capital Spectator headquarters, signaling one thing: your editor is heading out the door to escape the holiday rush and kick off the festivities ahead of schedule. We’ll return to regular operations on Thursday, December 26, with a fresh analysis of the post-holiday outlook. Until then… Merry Christmas!
Last week, real estate shares in the United States and equities in emerging markets outperformed other asset classes, as indicated by a set of exchange-traded funds. Meanwhile, foreign bonds emerged as the primary underperformer during the trading week that concluded on December 20.
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Is North Korea preparing to implement a new hardline anti-US policy? CNN
India’s Modi defends his citizenship bill amid widespread protests: BBC
China has announced plans to reduce import tariffs on a variety of goods: BBG
Russia pledges to retaliate against US sanctions affecting a new pipeline between Russia and Germany: AP
The Atlanta Fed’s GDPNow model has estimated Q4 growth to be +2.1%, matching Q3: AF
The New York Fed has revised its Q4 GDP forecast to a still-weak +1.3%: NYF
The latest revised Q3 data keeps US GDP growth steady at +2.1%: CNBC
US consumer spending trend shows a moderate uptick of +3.9% for November:
