Global markets were lower on Friday as continuing concerns about whether the US will succeed in passing any tax reforms splashed cold water on markets ahead of the US Thanksgiving break later in the week (trading is often subdued at least the day before Thanksgiving and often the following day).
While the three US benchmarks pulled back over the weekend, it should be kept in mind that the S&P 500 remains up more than 15% this year. Further, while Wall Street slipped from record highs, it has now been 261 trading days since we have had a 3% or more pullback in the markets, the longest such streak in history.
One of the factors driving gains is that the US economy appears to be firing on all cylinders, and expectations are that the US economy may expand at a rate of around 3% in the last quarter of the year. This week investors will get a chance to hear from Fed chair Janet Yellen and to parse the minutes from the Fed's latest policy meeting. The focus is increasingly shi...
Stock Markets, Simplified.