FidelityConnects

Jurrien Timmer’s market outlook - November 16, 2020

November 21, 2020

Jurrien Timmer, Director of Global Macro, joins us again to provide his weekly market commentary and global macro update. Jurrien notes that the market was broadening out nicely over the past week; on an absolute basis, that hasn’t come at the expense of growth. In the S&P 500 Index, 85% of stocks were above their 50-day moving average. There was also more positive news on a vaccine. Jurrien also notes that we are starting to see the gap between “reopening” stocks and “stay at home” stocks beginning to close, and small-cap value is also starting to participate. Additionally, Jurrien thinks that the signing of the Asia-Pacific Trade Agreement sends a message that the world economy is regionalizing; that would make sense, given the vulnerabilities COVID-19 has exposed.

Recorded on November 16, 2020.