Market Update:
The S&P 500 gained 0.2% to 2736 on Friday, however steep losses from earlier in the week pushed the index to its first weekly loss for November, the Dow Jones added 0.5% to 25413; US Vice President, Mike Pence sharpened U.S. attacks on China during a week of summits which ended Sunday, most notably with a call for nations to avoid loans that would leave them indebted to Beijing; The European Union is unveiling the first bloc-wide rules to prevent foreign investments from threatening national security, as Chinese acquisitions foster political unease; Aluminium producers will need to build additional smelting capacity outside of China as inventories are expected to run down over the next 2-3 years, according to Rio Tinto Group; Oil companies including Chevron Corp. and Royal Dutch Shell Plc pledged more than $100 million to support private investment in the Permian Basin (Texas) and New Mexico as the region struggles with the effects of booming production.
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