The markets have opened up to
begin Friday and are on pace to have the biggest weekly gain of 2015. As we
expected, the release of the minutes for the September 16-17 FOMC meeting has
provided some fuel for the current upward trend we are seeing right now. The
committee reported that inflation data has yet to support a 2015 rate hike and
that it will likely continue through the rest of the year which would cause them to
follow the zero interest rate policy for now. It’s a light day on the economic news
front but the kick off to the earnings season will more than likely be another
needle mover as we end the week. Early reports don’t point to a stellar
earnings season as Alcoa came up shy of third quarter estimates and they also
reported that they are cutting production growth forecasts for their China
business. Oil is also grabbing some market attention as it has crossed over the
$50 per barrel threshold. The surge in oil prices is boosting the energy
sector as it is up 13% since the start of October. Gold is following suit with
the rest of the market today and is trading up in early trading.
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