Global stocks rose modestly, supported by improving world economic growth and renewed mergers-and-acquisitions activity. U.S. and Japanese stocks led global markets higher for the month while European and emerging markets stocks — among the best gainers for the year — stalled amid signs of year-end profit-taking by some investors.
Consumer-related stocks rallied as the start of the holiday shopping season boosted both online and brick-and-mortar retailers, including Amazon and Wal-Mart. Telecommunications services stocks also advanced as investors searched for value in a sector that has significantly lagged the broader market on a year-to-date basis.
Equity Index Returns (%)
November 2017
YTD 2017
U.S. Dollar %
Local %
U.S. Dollar %
Local %
S&P 500
3.1
3.1
20.5
20.5
MSCI ACWI
1.9
1.3
22.0
18.3
MSCI ACWI ex USA
0.8
-0.5
24.4
16.5
MSCI World
2.2
1.6
20.8
17.2
MSCI Emerging Markets IMI
0.4
-0.6
32.1
26.7
MSCI EAFE
1.0
-0.5
23.1
13.9
MSCI Europe
0.2
-1.7
23.6
12.0
MSCI Pacific
2.6
1.7
22.6
17.9
Source: RIMES