Global Markets: Positive US-China trade news and Fed’s Powell comments drive gains on the week
• Equities gained on the week on good economic data, dovish comments from Powell, and optimistic trade sentiment, but finished off Wed’s record highs on news that Trump signed a Congressional bill supporting Hong Kong protestors, angering Beijing. The DJIA gained +0.6%, the S&P gained 1%, and the NASD rose 1.7%. Good economic data included GDP for 3Q19 beat expectations at +2.1% q/q and Core PCE gaining +2.1% q/q, only slightly missing expectations.Dear Clients,
Please find attached Ramirez & Co.’s Quarterly Macroeconomic Outlook. In our report, we continue to monitor the US economy, global events and the Fed’s outlook on the economy and rates:
Members of our Financial Strategies Group, Niso Abuaf, Konstantin Semyonov and Duncan Sinclair, would be happy to discuss further any of the material with you.
Full Quarterly Report