Did dismal U.S. jobs report knock off a June Fed rate hike?
On this week’s market update Chief Investment Strategist Erik Ristuben joins host Alexandra Davis to discuss the lower-than-expected U.S. jobs report for May, which likely knocked a Fed rate hike off the table in June and perhaps even for July. Ristuben notes that he does believe the Fed will raise rates this year, yet he now expects only one or two hikes in 2016, depending on the data going forward.
Shifting to the eurozone, where the ECB held rates unchanged this week and ECB President Mario Draghi insisted his stimulus program is only half done, Ristuben believes the key in the eurozone economy is to keep an eye on earnings for long-term expectations.
Concluding this week’s recap, Ristuben discusses the OPEC meeting, which failed to reach an agreement on oil production, and he notes the real factor pricing oil right now is the balancing dynamic between oil supply and demand.
Be sure to vote in this week’s Twitter poll @Russell_Invest, asking: Following the May U.S. jobs report, when do you think the Fed is most likely to raise interest rates?