Weekly Market Comment – December 20th 2019
In the US all three major indices reached new highs. The driver was more positive sentiment around the US/China trade talks. News of a preliminary U.S.-China trade deal boosted semiconductor shares, helping technology stocks outperform within the S&P 500 Index.
European stocks rose as fears of a disorderly Brexit waned after a crushing general election victory for Prime Minister Boris Johnson and his Conservative Party. The pan-European STOXX Europe 600 Index ended the week 1.05% higher, Germany’s exporter-heavy DAX index gained 0.73%, and the UK’s FTSE 100 Index rose 2.11%