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Mar 31 2016

Wall St flat after recent gains

Market Recap 3/30/16:
 
U.S. stocks rose on Wednesday as investors continued to take heart from Federal Reserve Chair Janet Yellen’s recent comments on interest rates. In a speech on Tuesday, Yellen indicated that the central bank wouldn’t be aggressive in raising interest rates, suggesting that markets could expect two increases this year instead of the four that were previously anticipated. Those comments were echoed by Charles Evans, the president of the Chicago Fed, who implied that a rate hike in April would be unlikely given low inflation. With the day’s gain, the S&P 500 is now up about 1 percent for 2016.
 
Looking ahead:
 
U.S. stock index futures were little changed on Thursday as investors found few reasons to keep pushing shares higher follow a multi-day rally that has taken indexes to their highs of their year. The recent gains have been fueled by the hope that the market would see fewer interest rate hikes this year than previously estimated. Economic data could test that idea, with stronger-than-expected data potentially making the Fed more likely to act. Many investors are looking ahead to Friday’s payroll report, which is expected to show strong job gains. 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.