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.
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