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Richard's Thoughts on the Fed

Daily Recap

Global markets moved higher today, with nearly all international markets in the green. The overseas action translated into mixed action here in the states, where most major averages traded between gains and losses.

 

Equity markets continue to trade on the heels of oil, which remained near $33 a barrel. Ongoing chatter about a production agreement is helping to provide a bid for oil.

 

Q4 GDP was revised higher to 1.0% (from 0.7%). Unfortunately, the boost came primarily from a rise in inventories, which could weigh on Q1 2016 growth. Both personal income and consumer spending ticked higher in January by 0.5%. The latest inflation data showed signs that inflation is beginning to rebound ... more on this Monday.

 

The Industrials ended the day down 57 points, with the Transports moving in the opposite direction, up 0.48%. The Nasdaq finished barely in the green while the broader S&P 500 ending marginally in the red. Despite the mixed averages, market breadth ... Log in or subscribe to continue reading.


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