Spreadex Market Update
Global markets are holding strong
The S&P 500’s return has been positive over November and December every year since the markets began to recover in 2009. In fact, December has had the second-best returns of any month, with the S&P 500 climbing an average 1.5 percent since 1928. Now, up more than 160 percent since 2009, earnings expanding for the last four years and the Fed’s $2.3 trillion of bond purchases has kept interest rates low spurring growth.
Expanding at its fastest pace in more than 6 years, British construction is said to be rising “like a phoenix from the ashes”. Construction PMI rose to 59.4 in October, beating economists' expectation that it would hold steady at September's reading of 58.9. Economists will now turn their attention to Tuesday's services PMI, which covers private-sector firms outside the retail sector and casts light on a much larger part of the British economy than construction.
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