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Mar 24 2016

Wall St falls with investors concerned about interest rates

Market Recap 3/23/16:
U.S. stocks fell on Wednesday, with energy stocks among the weakest of the day. The sector was pressured as a rise in crude oil stockpiles underlined longstanding concerns about an oversupply glut in the commodity market, sending oil prices lower. The market’s tone has generally been negative this week, with investors also concerned by the terrorist attacks in Brussels and uncertainty over Federal Reserve policy. Comments from Fed officials seemed to indicate that the central bank could be more aggressive in raising interest rates this year than previously estimated. Most market participants are looking for two additional interest rates in 2016, any increases beyond that could prove to be a headwind for equities.
Looking ahead:
U.S. stock index futures fell on Thursday, as concerns grew that the Federal Reserve would raise interest rates earlier than previously expected. Comments from James Bullard, the president of the St. Louis Fed, indicated the next rate hike could come as soon as April, ahead of the consensus of June, which most investors were expecting. Bullard will be speaking before the New York Association for Business Economics on Thursday, and his comments could dictate market action if he discusses rates in depth. Trading could also be volatile with markets closed for the Good Friday holiday tomorrow, as low volume can lead to bigger intraday swings. Don’t miss this week’s Money Matters with Gary Goldberg, where the guest will be Chuck Wepner, a former heavyweight boxer and the inspiration for the film Rocky. For stations and air times, please click here. Visit our website at for more details, including for a free, no-obligation portfolio evaluation.