Markets Calm Over Thanksgiving Week

in Market Commentary by

Market Digest – Week Ending 11/29

(Through Wednesday) As usual, it has been a quiet Thanksgiving week in the capital markets. Stocks and bond prices were little changed. Markets were encouraged by a nuclear accord reached with Iran over the weekend, but the agreement is so far poorly understood and represents just a small step in a long and complicated process.

Weekly Returns:

S&P 500: 1,807 (+0.1%)
FTSE All-World ex-US: (-0.2%)
US 10 Year Treasury Yield: 2.74% (-0.01%)
Gold: $1,237 (-0.5%)
USD/EUR: $1.358 (+0.2%)

Major Events:   

  • Monday – Over the weekend, an accord was reached with Iran which will ease some sanctions in exchange for limiting nuclear activities.
  • Tuesday – Building permits climbed in October to the highest level in more than five years.
  • Tuesday – The U.S. flew two unarmed B-52 bombers into a disputed air-defense zone recently claimed by China, escalating tensions in the region.
  • Wednesday – The Obama administration delayed online health-insurance signup for small businesses by one year.
  • Wednesday – Italy’s Senate voted to strip Silvio Berlusconi of his senate seat.

Our Take:

All of us at Personal Capital would like to wish you a happy Thanksgiving.

We would like to offer sincere thanks to all of you who utilize our Financial Dashboard, and especially to our wealth management clients. Our Dashboard is already helping hundreds of thousands of people take better control of their finances, and Personal Capital Advisors now directly manages almost $300 million.

It is exciting to have an opportunity to change the financial industry for the better, and simultaneously rewarding to see a large, rapidly growing number of people benefitting from our services.

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Craig Birk, CFP®

Craig Birk, CFP®

Craig Birk is a member of the Personal Capital Advisors Investment Committee. He also serves as Vice President of Portfolio Management. Prior to Personal Capital Advisors, he was an integral leader within the portfolio management team at Fisher Investments. During Craig’s time there, the company increased assets under management from $1.5 billion under management to over $40 billion. His responsibilities included risk management, portfolio implementation oversight, and management of all securities and capital markets research analysts. Mr. Birk graduated from the University of California at San Diego and has earned the Certified Financial Planner® designation.
Craig Birk, CFP®

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