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Mar 28 2016

Wall St edges up in quiet session

Market Recap 3/24/16:

U.S. stocks ended flat on Thursday, with investors finding few reasons to make big bets in either direction. Trading was particularly quiet going into the Good Friday market holiday; many market participants closed out their positions ahead of the holiday to protect against any news that could break over the weekend. Energy shares were among the weakest of the day, with the sector hurt by both a stronger U.S. dollar as well as rising stockpiles, which underlined the continued oversupply of the oil market. With the day’s trading, the market snapped a five-week streak of gains. Recent trading has been pressured by the prospect of more interest rate increases in 2016 than previously expected. While the Federal Reserve raising rates would be an indication that the economy is strong enough to support such a move, higher rates are also seen as a headwind for markets.

Looking ahead:

U.S. stock index futures were modestly higher on Tuesday, with Wall Street tracking the overnight gain in Asia. Trading could be quiet today, with few earnings or major economic indicators on tap, and with European markets closed for a holiday. Many market participants are looking ahead to Tuesday, when Janet Yellen will give a speech about monetary policy, comments investors will scour for any insight into when the central bank will next raise rates. Questions over Fed rate policy have been a primary market mover of late, to both the upside and the downside. 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.