Financial Markets & EconomyWeekly Capital Market Updates

EWM Weekly Capital Market Highlights for Week Ending 12/20/2019

By December 23, 2019 No Comments
  • Global equity markets were up broadly this week. US markets were led by the tech-heavy NASDAQ, with the DIJA, S&P 500 Index, and NASDAQ notching intraday record highs early Friday. International stocks were largely up; however, they trailed emerging markets, which posted strong returns for the week. Brazil and Argentina contributed significantly, while Turkey detracted.
  • Treasury yields rose on Wednesday. The yield on the 10-year U.S. Treasury Bill and the 30-year U.S. Treasury Bond both rose 3.4 basis points to 1.92% and 2.35%, respectively, their highest levels since early November.
  • Commodities rose, with the Bloomberg Commodity Index finishing marginally higher after an overall positive week. Within the index, oil prices jumped, lifted by the “phase-one” US-China trade deal that appears to have eased tensions.
  • The US dollar ended the week higher against a basked of major trade partners’ currencies. On Friday, the dollar was set for its best week since early November, after a number of encouraging US economic data releases, which make a near-term cut in interest rates less likely.
  • In other economic news, third-quarter gross domestic product (GDP) remained at 2.1%, buoyed by strong consumer spending, the main engine of economic growth in the US. This uptick in spending was offset by a decrease in business investment, falling from 2.7% to 2.3%.

Click here to download the complete weekly report: EWMWeeklyReview 12.23.19

Disclosure: Past performance is not necessarily indicative of future results.