Government Shutdown Receives Relief in the Weekly Market Update by Valeo Financial Advisors (January 26, 2019)
January 26, 2019    Disclosures    POSTED IN  InvestmentsEconomyMarkets

The longest U.S. government shutdown in modern history comes to at least a temporary end. President Trump reached a deal with congressional leaders and signed a stopgap funding bill on Friday to partially reopen the government. It provides relief for about 800,000 federal workers and should also ease some travel congestion the TSA has been stating. Internationally, China posted its 2018 economic growth figure which was at the slowest pace in nearly three decades, both the European Central Bank and the Bank of Japan left key interest rates unchanged and Germany business sentiment declined sharply in January.

As investors dissected global headlines and the earnings releases, U.S. stocks modestly turned from the positive New Year rally this past week. Domestic markets were closed on Monday in recognition of Dr. King’s birthday and went lower Tuesday before clawing back some losses toward the end of the week. International developed and emerging equities went higher, adding to the January rally despite the disappointing data out of China. Concern still hangs over Brexit as Prime Minister Theresa May is scheduled to present her exit plan B next week. An extension agreement may be reached between the U.K. and EU, but as of now, the country is set to leave the bloc in just over 60 days with no deal in place.

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