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Feb 26 2016

Wall St rises, investors look ahead to data

Market Recap 2/25/16:

U.S. stocks rose for a second straight session on Thursday, lifted by an ongoing rally in the price of crude oil. The commodity jumped about 3 percent on the day, which lifted beaten-down energy shares and reinforced the idea that a bottom had been put into the oil market. Investors have been worried that persistently weak oil prices could spill over into the broader market, signaling an economic slowdown as demand remains low and supply remains saturated. Also lifting sentiment was stronger-than-expected growth in orders for durable goods. In a positive sign for near-term momentum, the S&P ended above its 50-day moving average for the first time this year.

Looking ahead:

U.S. stock index futures rose on Friday, lifted after the head of China’s central bank said that he still had tools available that could support the country’s economy. The comments followed a sharp drop in Chinese shares earlier this week, which underlined the concerns investors have about how slowing growth in the region could impact the global market. Investors are looking ahead to a reading on GDP, as well as one on consumer sentiment. Strong read in those indicators would reassure investors that the economy continues to grow despite turbulence in overseas and commodity markets. Don’t miss this week’s Money Matters with Gary Goldberg, where the guest will be Robert Gordon, an economics professor from Northwestern University. 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.