US stocks were relatively flat over the week on rising Covid-19 concerns. The S&P 500 edged up 0.3% and the Dow declined 1.4% for the week. Abroad, the FTSE All World Ex US fell 0.9% for the week. The yield on the 10-year Treasury eased over the week to finish at 1.54% down from 1.58%. Oil prices fell 5.8% over the week to $76.10 a barrel over demand worries as areas in Europe moved back into lockdown.
Covid-19 cases are on the rise in the US and Europe. Austria announced a new nation wide lockdown and parts of Germany are also entering a new lockdown.
Japan’s economy contracted in the third quarter 0.8% on weaker exports and consumer spending.
The President signed into law the $1 trillion infrastructure package.
US Retail sales rose 1.7% in October over September.
Weekly unemployment claims declined to 268,000.