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Mar 30 2016

Wall St rises after Yellen comments; indexes near highs of year

Market Recap 3/29/16:
 
U.S. stocks rose on Tuesday, advancing in a broad rally after Federal Reserve Chair Janet Yellen urged caution on interest rates. In a speech, Yellen said that global risks remained for the economy, which indicated that the central bank wouldn’t be aggressive in raising interest rates. Investors had been expecting the Fed to raise rates four times this year, but recent comments from Fed officials have suggested that a mere two hikes may be more likely. Fewer rate hikes would be seen as a positive for markets. With the day’s gain, major indexes advanced to 2016 highs, 
 
Looking ahead:
 
U.S. stock index futures rose on Wednesday, looking to extend the previous day’s rally as investors continued to like Yellen’s commentary on interest rates. With major indexes near their highs of the year, investors are looking for validation that the market’s current levels are validated. Trading could be volatile with the release of private-sector employment data before the open, which could give insight into how strong Friday’s closely watched payroll report will be. Don’t miss this week’s Money Matters; 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.