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Mar 29 2016

Wall St edges lower as investors look ahead to Yellen

Market Recap 3/28/16:

U.S. stocks ended a volatile session flat on Monday, with investors torn over some mixed economic data, which showed weak consumer spending growth in February, along with a drop in inflation. While the data pointed to a market that continues to struggle with growth, they also suggested that the Federal Reserve may hold off on raising rates in an aggressive manner, which would be seen as a potential tailwind for markets. Among specific sectors, energy shares fell on Monday, dropping alongside a drop in the price of crude oil.

Looking ahead:

U.S. stocks edged lower on Tuesday, with market participants looking ahead to a speech that will be given by Federal Reserve Chair Janet Yellen. The comments will be scoured for any insight into when and how frequently the central bank could raise interest rates this year. Currently, most investors expect that the first rate hike will come in June, though comments by other Fed officials have raised the prospect of one in April. Investors are also torn over whether to expect two or four rate increases this year. Traders are also looking ahead to a report on home prices, as well as a read on consumer confidence. 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.