May to Resign and Equity Markets Slump in the Weekly Market Update by Valeo Financial Advisors (May 25, 2019)
May 25, 2019    Disclosures    POSTED IN  InvestmentsEconomyMarkets

Next month will mark three years since Britain voted to leave the EU and it has been a hard path for the Prime Minister over that time; Theresa May will now be resigning from her position on June 7 after she could not push a Brexit deal through Parliament. Semiconductor manufacturers had a rough start to the week after Huawei was added to a trade blacklist only for the Commerce Department to ease restrictions the following day. The Trump administration has rolled out a similar program to last year providing $16 billion in aid to help farmers hit by the trade war.

For the third straight week, U.S. large company stocks – measured by the S&P 500 – have declined although YTD returns remain strong, and the prevalent DJIA index has fallen for the fifth week in a row. Small company stocks have been hit harder recently and trailing one-year returns gone further negative. Geo-political tension muted international equity returns to near zero and slightly negative in emerging markets. Global growth concerns and rising trade tension led the 10-Year Treasury yield to its lowest level since 2017 on Thursday.

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