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Dec 22 2014

Stocks Rallied For A Fourth Day In A Row

Market Recap:

Stocks rallied for a fourth day in a row, as Blue Chips rallied sharply on lower energy prices and the expectation of continued lower interest rates. The DJIA climbed nearly 1% as IBM, Boeing, Intel all rallied sharply, while energy and healthcare shares – which are more prevalent in the S&P 500 – fell more than 1%. Oil declined by over 3%, driving the overall commodity space lower. U.S Treasuries were largely flat, while the dollar rallied against major currencies.

Looking Ahead:

Tuesday morning’s final look at third quarter GDP data could prove pivotal for markets. On balance, we do not expect any surprises and believe the “Santa Clause” rally could continue for a few more days. Given the drop in energy prices, and the expectation that oil prices and interest rates will remain suppressed for most of 2015, the argument for more gains for stocks is overwhelming.

Make sure to tune into CNBC at 3:45 Tuesday afternoon when our President, Oliver Pursche, joins Kelly Evans and Bill Griffith to talk about our 2015 outlook and which sectors we like best heading into the New Year. And don’t miss Money Matters with Gary Goldberg on WOR 710 AM this Saturday at 2:00 PM and Sunday at 11:00 AM to hear our complete economic analysis and market outlook for 2015.