The United States and China continued to spar over trade and other issues. An expert from Moody's told Frank Tang of the South China Morning Post (SCMP) the United States-China dispute will not be easily resolved:
"Look at the speech Vice President Pence gave in Papua New Guinea at the Apec conference. He didn't just talk about trade, but also intellectual property, the South China Sea, forced technology transfers. So there's a whole long list of issues the U.S. administration is now raising..."
Financial Times
reported the Organization for Economic Coordination and Development (OECD) anticipates global economic growth could stumble if trade tensions escalate.
SCMP
reported investors are hoping for greater clarity around trade issues when President Donald Trump meets with China's President Xi Jinping at next week's G-20 Summit.
The climate report added a new dimension to uncertainty about economic growth last week, reported Fortune. Black Friday shoppers may have missed it, but the U.S. government released the 4th National Climate Assessment on Friday. Ed Crooks of Financial Times summarized some of the report's economic findings:
"The largest costs of climate change for the United States this century were expected to come from lost ability to work outdoors, heat-related deaths, and flooding...If [greenhouse gas] emissions are not curbed it warns, 'it is very likely that some physical and ecological impacts will be irreversible for thousands of years, while others will be permanent.'"
Major U.S. stocks indices finished the week lower. It was the biggest drop during Thanksgiving week since 2011, according to CNBC.com.
|
Data as of 11/23/18
|
1-Week
|
Y-T-D
|
1-Year
|
3-Year
|
5-Year
|
10-Year
|
|
Standard & Poor's 500 (Domestic Stocks)
|
-3.8%
|
-1.5%
|
1.2%
|
8.1%
|
7.9%
|
12.0%
|
|
Dow Jones Global ex-U.S.
|
-1.4
|
-13.6
|
-12.1
|
2.3
|
-0.4
|
5.7
|
|
10-year Treasury Note (Yield Only)
|
3.1
|
NA
|
2.3
|
2.3
|
2.7
|
3.3
|
|
Gold (per ounce)
|
0.1
|
-5.6
|
-5.2
|
4.6
|
-0.3
|
4.1
|
|
Bloomberg Commodity Index
|
-2.9
|
-7.6
|
-6.3
|
0.0
|
-8.0
|
-4.1
|
|
DJ Equity All REIT Total Return Index
|
-1.2
|
1.5
|
0.5
|
6.8
|
9.7
|
15.3
|
S&P 500, Dow Jones Global ex-US, Gold, Bloomberg Commodity Index returns exclude reinvested dividends (gold does not pay a dividend) and the three-, five-, and 10-year returns are annualized; the DJ Equity All REIT Total Return Index does include reinvested dividends and the three-, five-, and 10-year returns are annualized; and the 10-year Treasury Note is simply the yield at the close of the day on each of the historical time periods.
Sources: Yahoo! Finance, Barron's, djindexes.com, London Bullion Market Association.
Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly. N/A means not applicable.
