The G20 meeting places trade-war risks at the forefront: BBC
Insights into the Trump-Russia connection emerge following Michael Cohen’s guilty plea: Bloomberg
Trump cancels the planned meeting with Putin in light of the Ukraine confrontation: CNN
China’s manufacturing sector continued to show signs of weakness in November, as reported by PMI: Bloomberg
Declining oil prices exert pressure on the junk bond market: NY Times
Federal Reserve minutes indicate expectations for a rate hike in December: MW
Pending home sales in the United States plummeted to a four-year low in October: MW
A sharp increase in US consumer spending was noted in October as inflation eased: Bloomberg
Survey reveals that women are more pessimistic about the US economy compared to men: Axios
US jobless claims reached a six-month high last week: CNBC
Despite facing challenges over the last two months, the US stock market’s growth sector remains notably stronger than the value sector, as evaluated through a range of ETFs. Although year-to-date returns for equities have recently fallen, the difference between growth and value remains significant, with growth showing healthy gains for 2018, while value has slipped slightly into the negative.
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Senate votes to hold Saudi Arabia accountable for Khashoggi’s death: LA Times
Ukraine’s minister reports that Russia is blocking Ukrainian ports in the Azov Sea: Reuters
Democrats put forth Pelosi as the nominee for Speaker of the House: NY Times
Brazil retracts its commitment to host next year’s UN climate summit: The Hill
Morgan Stanley’s chief US economist states that Trump cannot dismiss the Fed chair: CNBC
US life expectancy saw a decline in 2017: Bloomberg
Fed Chair Powell advocates for a gradual approach to rate hikes: MNI
New US home sales dropped to a two-and-a-half-year low in October: CNBC
US trade deficit widened in October: MW
Manufacturing activity in the Fed’s 5th district grew at a moderate pace in November: Richmond Fed
Revised GDP data indicate that the US economy expanded by 3.5% in Q3: MW
Scott Page, a professor at the University of Michigan, emphasizes in the Harvard Business Review that employing a range of models enhances forecasting capabilities. He advises that “an ensemble of models compensates for the limitations present in any individual model.”
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Russia plans to deploy new missiles to Crimea amid rising tensions with Ukraine: Reuters
Kudlow announces that the US and China have resumed trade discussions ahead of the G20 meeting: CNBC
Trump hints at canceling the G20 meeting with Putin following the Russia-Ukraine standoff: The Hill
Trump threatens to withdraw GM’s electric vehicle subsidies due to factory closures: CNN
The risk of a US government shutdown mounts over border wall funding disputes: Politico
Federal Housing Finance Agency reports a slow rise in US house prices during Q3: Housing Wire
US Consumer Confidence Index dipped in October but remains high: MW
US home price increases slowed to the lowest rate since January 2017: CNN
The US economy appears to be on track for a second quarterly slowdown during the last three months of the year. This assessment is drawn from a series of nowcasts provided by The Capital Spectator, with the current median forecast indicating a 2.7% annualized increase in real growth, slightly less optimistic than the previous estimate released in early November.
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Will tensions between Russia and Ukraine escalate into a broader conflict over sea passage? NY Times
Prospects for a US-China trade agreement dim following comments from Trump: CNN
Early indicators suggest that China’s economy has slowed for the sixth consecutive month in November: Bloomberg
Trump dismisses economic warnings focused on climate change in his administration’s report: BBC
Trump states that the UK-EU Brexit agreement could impact future US-UK trade relations: CNN
The House GOP has introduced a substantial tax bill for the lame-duck Congress: Politico
GM announces significant layoffs and plant closures: CNN
A robust job market boosts the Chicago Fed National Activity Index in November: MW
Aside from investment-grade bonds in the US, which posted flat performance, nearly all other major asset classes experienced declines last week amid a selling wave, as indicated by a collection of exchange-traded products.
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Russia has seized Ukrainian naval vessels off the Crimean Peninsula: BBC
Following the seizure of Ukrainian ships, Russia reopens Kerch Strait to shipping: Reuters
The EU has approved the UK’s Brexit agreement: BBC
The US closes a significant crossing with Mexico as migrants rush the border: WaPo
Global markets made a recovery on Monday: MW
Companies are considering Democratic proposals to raise the corporate tax rate: The Hill
PMI data reveals that Eurozone growth dipped to a four-year low in November: IHS Markit
The US Composite PMI indicates moderate growth for November: IHS Markit
The US Treasury inflation forecast via 5-year Notes has fallen to 1.77%—the lowest level this year.
By Jon D. Markman
Summary via publisher (McGraw-Hill)
Our lives are on the brink of transformation due to advanced technology. “Fast Forward Investing” equips readers with the essential knowledge to effectively manage and grow their portfolios in this evolving landscape. Jon D. Markman, an experienced tech investor and manager, outlines what to anticipate, when to prepare, and how to capitalize on the forthcoming technological and economic upheaval. He highlights key companies that are forging platforms and competitive advantages poised to disrupt and revolutionize their respective markets.
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This compilation of economic updates illustrates the complexities and challenges facing the global economy as we approach the end of the year. From geopolitical tensions to market fluctuations, key stakeholders must navigate these uncertainties while preparing for potential shifts in various sectors. Keeping an eye on these developments will be essential for informed decision-making moving forward.
