Tuesday, December 15, 2015

Economic Journal - Tuesday, 12/15/2015




(as of 7:25 am PST)

Markets are pushing higher Tuesday and are picking up momentum after yesterday’s late session rally. Oil has rebounded in the last 24 hours after dipping below $35 per barrel and is bringing the rest of the market up with it. Economic news is mixed today. Falling gas and food prices have kept consumer prices flat on a seasonally adjusted basis in November with inflation data in line with expectations. The Empire State general business conditions index came in negative for December showing activity contracted, but not as much as analysts expected. Neither of these reports are expected to turn the tide of the expected rate increase by the Fed tomorrow, which of course is the big story of the week. European markets recorded impressive rallies overnight while Asian indexes finished Tuesday’s session mixed. Tomorrow’s rate decision and today’s momentum could be a major turning point that fuels a year end Santa Claus rally.

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