U.S. jobs data, oil and central banks kick off 2015’s economic news
In this week’s episode:
- Positive U.S. jobs number overshadow decline in wage data
- Geopolitical and market risk lurk from lower oil prices
- Markets expectations await ECB meeting later this month
On Market Week in Review, Chief Investment Strategist Erik Ristuben discusses the wild market swings to start off 2015, and while the positive U.S. jobs number featured the lowest unemployment rate since 1999, wage data overshadowed it and sent the markets back down to end the week. Ristuben comments on oil prices as another key factor in global market volatility this week. He concludes that while lower oil prices generally have a positive impact on the global economic outlook, there are some significant geopolitical and market risks associated with the price correction in certain oil-producing nations, particularly some emerging markets, where the plunge affects their revenue and could potentially lead to political turbulence.
Ristuben wraps up by discussing central banks in the spotlight this week, as the Federal OpenMarket Committee (FOMC) meeting notes reconfirmed the U.S. is on track to raise interest rates mid-year. Perhaps even more noteworthy, if the market’s expectations are correct, European Central Bank (ECB) President Mario Draghi’s concern for lack of inflation will cause the ECB to take action at its meeting later this month. Communications and Social Media Manager Alexandra Davis hosts.