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Nov 24 2014

Stocks started the week on the positive side

Market Recap:

Stocks started the week on the positive side, as investors followed through on last week’s rally. Better than forecast German business sentiment set the stage, before PMI Services data slightly disappointed causing markets to reverse early gains. Technology stocks outperformed as the NASDAQ gained nearly 1%, consumer discretionary shares also rose, while Energy, Telecom and Utility shares fell. Commodities were mostly lower, as were Treasury yields and the US Dollar index.

Looking Ahead:

Tuesday morning’s second look at third quarter GDP and an update on Home prices are likely to prove pivotal as many traders and investors consider the Tuesday before Thanksgiving the last trading day of the week. With winter weather approaching the east coast and the potential of as much as 8 inches of snow expected between Wednesday and Thursday morning, earlier than previously planned departures are likely. This means that Tuesday trading could be volatile, and exaggerated as market participants may look to reduce positions ahead of the holiday. One key event many investors will be watching on Thanksgiving Day will be the OPEC meeting to see whether or not Oil production might be cut by Saudi Arabia in response to the sharp drop in Oil prices.

Our President, Oliver Pursche, will be on Fox Business Tuesday evening from 6:00 PM to 7:00 PM to discuss our latest outlook for the economy and markets, and will join Kelly Evans and Bill Griffith on the floor of the New York Stock Exchange on Wednesday afternoon at 3:45 PM for his regular market update.

Visit our website for details. And don’t miss Money Matters with Gary Goldberg this Saturday at 2:00 PM and Sunday at 11:00 AM on WOR 710 AM radio for a special “best of Money Matters” program.