Headlines discussed at LNWM’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 negotations continue.
— US retail sales rose just 0.3% in Nov. (vs. 0.5% expected) and up 3.3% over last Nov., as consumers cut back on discretionary spending.
— The Federal Reserve held its key interest rate steady, and may continue with rate neutral stance through 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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