Market Recap 2/04/16:
U.S. stocks rose for a second straight day on Thursday, as a fall in the U.S. dollar boosted the price of copper and other metals, which in turn spurred a rally in material shares. The day’s trading was volatile, with major indexes attempting to recover from recent sharp losses at a time when much of the news flow – including on earnings and economic data – has been disappointing or tepid. Investors have been torn over whether poor data should be taken as a sign that the economy is getting weaker, or whether it means the Federal Reserve may slow its plan to raise interest rates, which would be a market positive. The recent whipsawing has many investors concerned. If that includes you, we encourage you to listen to our weekly radio program, Money Matters with Gary Goldberg – click here for stations and show times. And if you have accounts that aren’t being managed by Gary Goldberg Financial Services, ask for a no-cost, no-obligation portfolio evaluation to review the levels of risks you are exposed to.
On the downside on Thursday, a number of major retailers fell on the back of weak quarterly results, suggesting consumers are not taking advantage of cheap oil prices to spend elsewhere.
U.S. stock index futures were flat on Friday as investors awaited the closely watched January jobs report. About 190,000 jobs are expected to have been added in the month, and if the report comes in below expectations, that could solidify theories that the Fed will hold off on its previously stated plan to raise rates by four times this year. A positive read would suggest the economy continues to grow despite recent market turbulence; trading could be volatile if investors differ on how to interpret the report. Don’t miss this week’s Money Matters with Gary Goldberg, where the guest will be Steve Forbes. For stations and air times, please click here. Visit our website at www.ggfs.com for more details, including for a free, no-obligation portfolio evaluation.