The following are the headlines discussed at Aldwin Callen's Monday morning briefing:
- The UK is likely to exit the European Union by the end of January 2020, as the Conservative party won a strong election mandate.
- The US and China agreed on Phase I of a trade deal, which will reduce some tariffs and put off new ones as negotiations continue.
- Retail sales in the United States grew 0.3 percent in November (vs. 0.5 percent predicted) and 3.3 percent year on year, as consumers cut back on discretionary spending.
- The Federal Reserve held its key interest rate constant and indicated that it may maintain a rate neutral position until 2020.
- US wages and other labor costs are not rising as much as previously reported, keeping the lid on inflation and helping corporate profit margins.
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