US equity markets posted fresh falls after resuming trading in an abbreviated session following the Thanksgiving holiday, leaving the benchmark indices nursing weekly declines of over >3.5% and their worst Thanksgiving week performance since 2011 - Dow down -179-points or -0.73% The broader S&P500 fell -0.66%, with nine of the ten biggest falls in the index being companies with links to the energy complex. Energy (down -3.26%) was comfortably the worst performing primary sector. President Trump continued to cheer the latest falls on oil markets from the sidelines on Twitter over the weekend, tweeting "So great that oil prices are falling (thank you President T). Add that, which is like a big Tax Cut, to our other good Economic news. Inflation down (are you listening Fed)!". On a brighter note, a report from Adobe Analytics showed that Thanksgiving online shopping rose 28.6% from last year to US$3.7B, with smartphones driving a record 54.4% of traffic and capturing captured a 36.7% share of revenue. The NASDAQ -0.48%, with the FAANG complex under renewed pressure (Facebook Inc down -2.29%, Amazon Inc -0.97%, Apple Inc -2.54%, Netflix Inc and Google-parent Alphabet Inc -1.32%). Ahead of a planned meeting between President Trump and Chinese President Xi Jinping at the G-20 summit this week (30 November-1 December) in Buenos Aires the Wall Street Journal reported that the US government attempted to persuade foreign allies to avoid telecommunications equipment from China’s Huawei Technologies Co. For the week, the Dow fell -4.44%, S&P500 -3.79% and the Nasdaq -4.26%.
