Cetera Weekly Recap
Stocks Snap Three Weekly Losses
Equities End Positive Following strong Friday gains, all three major U.S. equity indices posted their first weekly gains of the new year. The S&P 500 mounted a 2.4% rally on Friday after briefly reaching intra-day correction status, down more than 10% from its January 3 record high. Federal Reserve policymakers confirmed Wall Street’s hawkish interest rate outlook last week, signaling rate liftoff ahead at its March policy meeting. Amid the shift, investors have favored less expensive cyclical (value-oriented) companies that are more economically sensitive. Major economic releases this week include key readings on manufacturing and services activity as well as Friday’s all-important nonfarm payrolls report for January.
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