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Week of November 11th – 15th

  • The Dow Jones Industrial Average rose 323.65 points, or 1.2%, to 28,004.89 this past week, while the S&P 500 index gained 0.9% to 3120.46 and the Nasdaq Composite advanced 0.8% to 8540.83. All three closed at record highs.
  • Trump at the Economics Club NY, Jerome Powell at Congress, Impeachment, China-US. The market ignored all them.
  • Alibaba’s Singles’ Day logged more than $30 billion of purchases, exceeding last year’s record about two-thirds of the way through the 24-hour shopping marathon. More merchandise is sold online on Nov. 11 than during the five-day U.S. spree from Thanksgiving to Cyber Monday. Alibaba is facing stiff competition this year from smaller platforms including and Pinduoduo.
  • Aramco IPO
  • Chilean peso at new lows on news or rewriting the constitution
  • First look into the Holiday Season sales looks at 4.1% increase y-y
  • Argentina bonds, WeWork Bonds as lowest
  • Germany is not in recession. Q3 GDP 0.1% e -0.2%
  • AMD, Walmart, Facebook
  • PPI, CPI and Retail Sales came out without much fanfare