As we entered the fall, positive headlines on trade reduced volatility, and stocks moved to new highs.
- In November alone, the S&P 500 Index2 closed at 11 new highs (St. Louis Federal Reserve S&P data).
What happens if the U.S. and China fail to conclude a trade deal? It may simply be public posturing designed to wring out concessions, but the president has a way of shaking things up from time to time.
- On Tuesday, he said he liked “the idea of waiting until after the election” to reach a deal (WSJ).
- He also suggested that he might take aim at other countries.
November has been kind to investors, with multiple new highs for the major market indexes. Major milestones include: 28,000 for the Dow Jones Industrials, 3,100 for the S&P 500 Index (3,000 was eclipsed in July), and 8,600 for the NASDAQ Composite.
Please be advised that our office will be closed Thursday and Friday this week for Thanksgiving and Black Friday. We will resume our regular hours of operation on Monday, December 2nd.
We hope all of our clients and their families enjoy a happy and safe holiday together!
Leading economic indicators are suggesting economic growth will soften through the end of the year, but we’re not seeing signals that a recession is looming. Before I go on, let me say that the recessionary track record for economists isn’t great. Still, we can review important signs.