Global stocks rose modestly in November, rebounding from a sharp October selloff, amid signs that the U.S. Federal Reserve may soften its monetary tightening stance in 2019. U.S., Japanese and emerging markets stocks all moved higher, while European equities declined on continuing trade and economic uncertainty in the 19-member eurozone.
Defensive stocks generally outpaced cyclical sectors, highlighted by a rally among dividend-paying companies. Health care stocks enjoyed the largest gains, boosted by strong corporate earnings growth. Energy stocks declined the most, weighed down by falling oil prices. Information technology stocks also lost ground as a broad selloff continued in the formerly high-flying sector.