Global markets dipped modestly lower for the holiday-shortened week, with a decline of 0.1%. Markets opened the year strongly following fresh stimulus efforts from China and optimism of further signs of easing trade tensions. President Trump indicated that Chinese officials would visit the White House on January 15th to sign the phase one trade agreement negotiated last month. Markets then sold off on Friday as geopolitical tensions escalated in the Middle East following a US drone attack.
Buoyed by a strong December rally, major markets closed out their best annual performance since 2013. The S&P500 climbed 28.9% in 2019 while posting a 31.5% total return factoring in dividends, with IT the strongest-performing sector. The MSCI AC World TR posted a 26.9% return extending the record bull market run that began in March 2009.
In the week ahead, US employment data will headline the economic calendar and is expected to continue the strong numbers seen in November. CLICK HERE