Weekly Financial Market Update - February 1, 2019
February 4, 2019
Global stocks began last week with losses as weak Chinese economic data fueled concerns of slower global growth. Stocks’ performance improved mid-week following strong fourth quarter earnings reports and signals from the Fed that further interest rate increases are likely on hold until further notice. Additionally, news of a trade meeting in mid-February between U.S. President Donald Trump and China’s President Xi Jinping, along with a strong January employment report, helped boost sentiment.
Federal Reserve’s policy setting committee decided to leave interest rates unchanged at its January meeting. While the Fed statement and press conference appear to have been viewed by the market almost as a commitment to no hikes in 2019, it is more likely that it represents a pause during a time of unpredictability.
Learn more about these developments and read the latest from the U.S. economic data reports in our Weekly Financial Market Update.