Stocks snapped back from January’s slump with 2% or better gains last week. Janet Yellen, in her debut testimony as Federal Reserve Chair before Congress, indicated that the Fed is going to remain on its path of tapering its bond purchases in 2014 in “measured steps” – barring a significant change in prospects for employment or inflation. Follow the link below for our review.
Global stock prices rallied over the final three days of last week, as investors gave the soft U.S. jobs report for January a pass, probably due to the poor weather that most of us have experienced so far in 2014. Follow the link below to our review of the past week’s action.
For the most part, global stocks traded lower in the final week of January, making the month the worst for the Dow (-5.3%) and S&P 500 (-3.6%) since May 2012. Concerns that the Fed’s tapering of its bond buying will have an outsize impact on emerging market economies roiled markets for stocks and currencies around the globe. For our take on things, follow the link below.