Price Return Last Week
S&P 500 +1.0% S&P Mid Cap (1.02%) Russell 2000 (+1.1%)
MSCI EAFE +1.7% MSCI EM +2.5%
10 Yr US Treasury Rate – fell from 4.19% to 4.15%
Source: Refinitiv Eikon
Recent News
Syria Rises – After more than 50 years of control by the Assad family, armed rebels in Syria took over control of the country as President Bashar al-Assad fled to Russia. Wars in Gaza and Ukraine distracted Syria’s allies from being able to offer support and rebel group, Hayat Tahrir al-Sham (HTS), seized the opportunity. The type of government to emerge from the rebellion remains a question. Due to long ago ties with Al-Qaeda, HTS is currently designated a terrorist organization by the United States. However, President Biden remarked over the weekend that “they are saying the right things now.”
Source: The Wall Street Journal
China Signals Greater Stimulus – China stated that they will adopt an “appropriately loose” monetary policy in 2025 and increase “unconventional” adjustments to boost consumption. Chinese stocks rallied 3% after the statements were released.
Source: Thomson Reuters
Zelensky Comments – Ukrainian President Volodymyr Zelensky stated for the first time that Ukraine is open to letting Russia maintain currently occupied territory in exchange for membership in NATO. Russian President Vladimir Putin has not indicated a willingness to negotiate at this time and the U.S. remains reluctant to endorse Ukraine to be a new member of NATO.
Source: The Wall Street Journal
Jobs Report – Nov: 227k (Reuters Poll Est. 200k) Oct: 36k
The labor market followed up a lackluster October report plagued with hurricanes and strikes with a strong November report. The report suggests the economy remains strong and gives the Fed more flexibility to keep rates where they are if they become more concerned about inflation. However, market expectations still show an 85% chance of a rate cut at the next Fed policy meeting.
Source: Refinitiv Eikon, The Wall Street Journal
Mr. Met – Juan Soto agreed to terms with the New York Mets on a contract spanning fifteen years and totaling $765 million. The contract represents the largest in professional sports history and proves Soto’s wisdom when he turned down a contract from the Washington Nationals for $440 million just two years ago. The Mets reportedly beat out Soto’s current team, the New York Yankees, by offering just $4 million more.
Source: ESPN.com, Yahoo! Sports
Upcoming Events
12/9 – Notable Earnings Reports: Oracle
12/10 – Notable Earnings Reports: AutoZone
12/11 – CPI, Notable Earnings Reports: Adobe
12/12 – PPI, ECB Meeting, Notable Earnings Reports: Broadcom, Costco
Source: Refinitiv Eikon