FYI: Global stocks are lagging behind U.S. shares, illustrating how investors’ faith in the domestic economy continues to drive a growing divergence in financial markets.
After rising to a fresh record last week following upbeat figures on third-quarter economic growth and October hiring, the S&P 500 is up 22% for the year and on track for its best annual performance since 2013. The MSCI AC World ex USA index, meanwhile, is up 13% and had struggled to eclipse its year-to-date peak before a Friday rally. U.S. stocks have also become more expensive relative to global equities in recent years and are pricier than many overseas gauges relative to corporate earnings over the past 12 months, FactSet data show.
Regards,
Ted
https://www.wsj.com/articles/u-s-stocks-outpacing-the-rest-of-the-world-11572863400?mod=hp_lead_pos5
