Financial News and Portfolio Management Discussion through December 11th

US stocks ended the week at new all-time high on positive news about the severity of the Omicron variant. The S&P 500 gained 3.8% and the Dow jumped 4.0% for the week. Abroad, the FTSE All World Ex US rose 2.1% for the week. The yield on the 10-year Treasury climbed as investors moved away from safe havens ending the week at 1.49% up from 1.34%. Oil prices rebounded gaining 8.2% to finish the week at $71.67 a barrel.

China’s central bank said it was reducing the cash required to maintain on hand for banks injecting more liquidity into the economy in hopes to stimulate growth.

Initial unemployment claims again fell to the lowest level in 50 years with 184,000 claims filed.

China reported higher increases than expected in consumer and producer prices in November.

US inflation reached a nearly four decade high in November rising 6.8% from a year earlier.

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