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A rather quiet week on the news front as the same daily rumblings and hopes about a U.S. – China trade deal that have gripped the market for over a year, continued yet again. A flock of Federal Reserve members came out to opine about the economy – some content with where rates are, while others wanting more cuts. The impeachment situation was more of a sideshow as a two thirds majority in the Senate to remove is never going to happen.
While this is probably a negotiating tactic on Friday it was reported the White House is considering limiting U.S. investment into China, including a possible delisting of Chinese companies from U.S. stock exchanges.
The “wrong” sectors continue to lead the market – this utility chart looks like something out of NASDAQ year 1999! These are “safety” sectors where money goes to hide.Continue reading