The U.S.-based indices closed mixed this afternoon. Asian stocks closed mixed in the overnight session as equities in Europe closed higher this morning.
This past trading week was chock full of macro based information relating to interest rates, inflation, energy volatility, and currency movements. Market participants are closing monitoring the impact of the gradual interest hike that has been taking place. While indication from the majority of the FOMC members puts the economy on a positive trajectory, analysts are discussing the impact of slack in both the labor market and productivity growth.
While oil prices remain below the $50 handle, traders are watchful of specific commentary as it relates to production cuts and the most recent Rig and Petroleum status reports as a barometer of U.S. production and output capacity.