Weekly Financial Update - September 21, 2018

The S&P 500 Index and Dow Jones Industrial Average reached all-time highs last week. They were helped by less stringent tariffs than were expected on an additional $200 billion of Chinese imports. The Trump Administration announced it would impose a 10% levy on the next batch of Chinese imports which had previously been targeted for a 20% tariff.

U.S. homebuilding increased more than expected in August, a positive sign for the housing market which has underperformed the broader economy amid rising interest rates for home loans.

Read more about these developments and why traditionally cyclical sectors including energy, financials, materials and industrials were the market leaders last week in our Weekly Financial Update.