Financial News and Portfolio Management Discussion through November 30th

US stocks rose over the week on optimism on the direction of US/China trade talks, hitting new record highs.  The S&P 500 rose 1.0% and Dow gained 0.8% for the week.  Abroad, the FTSE All-World Ex-US was up 0.2% for the week.  The 10-year Treasury yield was flat over the week finishing at 1.78%.

China’s Commerce Ministry issued a statement saying the US and China “reached a consensus on properly solving related issues,” upbeat language that progress was being made in trade talks.

Third-quarter US GDP was revised up to 2.1% from 1.9%.

October US durable goods orders rose more than expected.

Consumer spending rose 0.3% in the US in October from September.

A measure of Chinese factory activity unexpectedly expanded in November after six months of contraction.

LVMH is acquiring Tiffany & Co. for $16 billion.

Schwab has agreed to buy TD Ameritrade for $26 billion.

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