The market was up for the week thanks to the Santa Rally that normally occurs during this time of the year. Oil reserves were down around $5.4 million barrels for the week compared to the week before. Looking at weekly market release can cause not always tell the true story. Just look at the economic growth forecast which is always be adjusted after the numbers are initially released. However, it was expected given that companies in the oil industry were beginning to remove oil reserves off the balance sheets given that oil prices have dropped dramatically this past year. Perhaps, I should say sharply instead of dramatically.
Given that this is the finally week of trading in 2015, trading will be lighter and hopefully less volatile then previous trading sessions.
For me, I will watching to see how the retailers did in the final weeks leading up to Christmas. The idea to remember when it comes to investing is to keep focused on your goals — both long-term and short-term. This is especially true given that the Federal Reserve is bent on raising interest rates especially in 2016.
I suppose you could look at it from the prospective that the rate increases help the retirees who save that didn’t get an increase in their social security benefits given that the government weighed the oil price declines in their inflation numbers as the reason to not give an increase to Social Security benefits in the 2015-2016 fiscal year.
Until next week, have a happy and safe new year.