Weekly Market Recap This week saw the markets move up in a short trading week for US markets, and the S&P 500 enjoyed its biggest 2 day gain since last summer. US industrial production showed higher than expected growth for January. This was potentially important given US industrial production has appeared weak in recent months. There was further speculation regarding limits to oil production across major oil producers as Saudi Arabia and Russia considered freezing oil production at current levels. This news, in part, helped oil move to its first weekly gain in a month. The Federal Reserve released the minutes from their January meeting, noting an improving US labor market. This positive trend was somewhat offset by uncertainty surrounding China and potential market stresses that could be caused by lower commodity prices. Overall, the Federal Reserve did not see any material changes to their forecasts as a result of recent events but noted that uncertainty had increased. Notes:
US Industrial Production:
http://www.federalreserve.gov/Releases/g17/current/default.htm
Oil price:
http://www.reuters.com/article/us-usa-stocks-idUSKCN0VQ1G9
Federal Reserve January Meeting Minutes:
http://www.federalreserve.gov/monetarypolicy/files/fomcminutes20160127.pdf Disclaimer:
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