Market Week Recap – October 9, 2015
Soft employment report, dovish Fed minutes and a recovery in Oil prices – all of a sudden we’re in a “risk on” mode and the world is a much better place to invest.
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Highlights of the week:
After last Friday’s soft payrolls report, US interest rates remained stable and many participants expect rates to stay low longer than previously anticipated. US stocks rallied.
China returned from Golden Week celebrations joining the worldwide market rally.
FOMC’s dovish comments emphasized offshore economic weakness and its negative implications for US inflation. Markets gained momentum.
Oil prices hit three-month highs, energy stocks led the market higher.