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Daily Blog

Thursday, December 5, 2019

The U.S. trade deficit narrowed in October to -$47.2 billion, but on less than stellar news: imports dropped more than exports in percentage terms as both declined. The trade deficit with China is -$32 billion compared to -$8.8 billion with Mexico and -$3.4 billion with Canada. The good news remains among consumers, with initial unemployment claims dropping to 203,000 in the final week of November. This bodes well for tomorrow’s employment report, which a number of analysts believes could be as high as 200,000.

Please see the trade report on page 17 of the Voya Global Perspectives book.

Weekly Commentary & Statistics

Monday, November 25, 2019

U.S. stocks ended a roller-coaster week on a positive note, driven by encouraging comments from President Trump and China's President Xi on a potential U.S.-China trade deal.

Quarterly Commentary & Outlook

October 2019

The gathering storm clouds that first began forming across Europe, and then China are now developing over the U.S. In Europe, it seems imminent that the third quarter will signal a recession; China has its hands full with the U.S. supply chain; and the U.S. suffered a substantial negative surprise in its very important manufacturing sector. Meanwhile, the consumer sector continues unabated and corporate earnings are still reaching record highs. Right now though, markets are focused on the impending storm.

  • Markets are fixated on the gathering storm clouds over Europe, China and now the U.S.
  • Meanwhile, consumer growth advancing unabated and corporate earnings still setting record highs
  • A close look at “Big 3” (Europe, China and the U.S.) manufacturing can provide a vivid picture of their respective outlooks for the global economy and future corporate earnings
  • Despite manufacturing woes, the U.S. consumer’s exorbitant strength is stepping into the void
  • While investors see constant negative headlines, the market keeps challenging all-time record highs

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