U.S. stocks are struggling to recover from Tuesday’s massive sell-off. A combination of factors all brewed at the same time contributed to Tuesday’s sell-off including the strong dollar, dip in oil prices and weakness in the European markets. ‘But buried in all the headlines was the still under-appreciated JOLTS report, the single best measure of U.S labor markets,’ said Nicholas Colas, chief market strategist at Convergex. Investors are constantly searching for clues on the rate hike and the Wall Street Journal is reporting the Fed will drop the word ‘patient’ from its statement ahead of raising rates as early as June. Colas says based on the JOLTS report, the Fed will likely raise rates in June because it ‘leaves the Fed even less room not to increase interest rates.’ Despite the market volatility, Colas still thinks the S&P 500 will finish in the green for 2015.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
