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Frequently Asked Question❓ 

Are market fluctuations normal?

Answer at the bottom of the newsletter

S&P Global's US Composite PMI, which tracks activity in the services and manufacturing sectors, rose in November to the highest level in 31 months, indicating more sales and production. The services sector drove most of the business acceleration while the slump in manufacturing leveled off. New orders picked up while inflation calmed down. The number of businesses reporting charging higher prices to customers fell to the lowest level since May 2020. Despite increased optimism, companies were still cautious about hiring.

The Federal Reserve's latest Financial Stability Report notes that banks are doing well with lots of cash in reserve, but there are some concerns to watch out for. Stocks and homes are currently very expensive, which could be a problem if prices suddenly drop. Most people aren't overloaded with debt, but there's an increase in missed payments on car loans and credit cards, especially among those with lower credit scores. Businesses are carrying a lot of debt, and some investment funds are borrowing more than usual, putting them at risk if there’s a downturn. The Federal Reserve is also worried about the growing national debt and potential issues with international trade. These factors could pose risks to the economy if they're not addressed.

Global leaders concluded the 2024 United Nations Climate Change Conference (COP29) in Baku by agreeing to triple climate finance for developing countries to at least $300 billion annually by 2035, aiming to mobilize $1.3 trillion annually from public and private sources. This will help with adaptation and reconstruction efforts for developing nations suffering the worst impacts of climate change. Despite this milestone, some nations like India criticized the amount as insufficient to address climate challenges. The deal also paved the way for the global trading of carbon credits, financial instruments representing removed or avoided fossil fuel pollution. While this could help incentivize efforts to remove fossil fuel pollution from the atmosphere through actions like forest restoration, environmental groups caution that the new rules might allow for low-quality carbon credits that undermine carbon reduction progress. The slow and underwhelming outcomes of this year’s primary climate conference highlight the challenges in reaching the necessary scale and speed of effective action against climate change.

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💡 Answer to the Question:

Market fluctuations are totally normal. When you see the market move more than 2% in either direction on a given day, that's notable. Money moves back and forth between different types of investments, as traders shift from higher risk to lower risk positions.