The first full week of trading in 2015 is underway. Not much on the economic data front Monday but the markets will have some big report to digest later in the week. PNC Asset Management’s (PNC) Chief Investment Strategist, Bill Stone says the ‘Santa Claus rally is an omen to the year ahead’ but they include the first two trading days of the new year and so far it’s not looking good. Crude oil may be the ‘grinch’ that stole Christmas with the equity markets getting hit. Even so, Stone thinks ‘the decline in oil prices is a net positive for the U.S. economy but that there will be winners and losers.’ Most watched economic data this week will likely be the U.S. December employment report on Friday. Stone is expecting a slight decline in the unemployment rate to 5.7% from 5.8% and payrolls growing by 240,000.
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