Look for the market to focus on energy again in the last trading days of the year, says financial adviser Michael Conway, who sees oil retesting its lows.
Wall Street finished mostly lower with the Dow snapping a three game win streak on this Christmas Eve. Joints that recap the action Michael Conway he's. CEO of com when while group acts natural resource welcome Michael not like trading has sort of expect in this hall. We your take these mark. Well now a lot going on I think went home for the holidays now a lot of market wrap and we have very intriguing today. And I think the NASDAQ finished up and down yes or worse lately. But oil prices there are more than one half percent today but will stocks energy stocks lit. S&P 500 lower when you make it is final yet the derailment between that correlation we've seen between oil and stocks it was just one. I think it's a bit of one off. That we that's good news over the last few days with oil as we we know rig count is down and inventories and yet. Down in the neighborhood of five point seven million. Barrels and so that was positive news we open wheel hop over the last few days so. Good science it would oil from here there's themselves there'll you know I think we've had a nice bounce off the bottom. I think we probably read Tesco downton I'm not sure where but we re test on what was side. And that was the modest growth this year and next year. Again as we see you rig count go down and the but Michael looking at next week's economic data counties. Is rather like. So will market the focusing it will be willing to finish out the year goes into the story. I think. We will see via trade I don't see a lot of active video in the next week or so. I think as we go into next year world start. The clock ticking again to see with the Fed is going to do we all waited anxiously in markets were really. Paper focused on what the that was gonna do now we've shifted gears when we watch. What's happening with oil. So I think going to be getting you'll be watching oil and that it. Of course in 2016 what are you telling your clients what advisory. For example out what to expect them. So so think about it. The stock market has gone up so much over the last few years from the bottom and more to own online poll we threw tonight. So we were somewhere around 66 under on that now is in 09 in which students and it. Op so fed it and interest rates at zero. The markets did fantastic. But the economy relief wells completely we're seeing growth we're seeing GDP growth in the neighborhood of 2%. In overseas it's much. We think we'll see volatility next year's going to be choppy year wait we've seen at the end of this year. And we see. It will grow so how best to set themselves up and it all. Yes I had it in that direction state diversified. Really diversified portfolio don't please bats and go wildly inequities or or or or run and I'd completely but he's but diversified or use that's mean keep exposure applies heat exposure to bonds yes don't run I'd even though we think interest rates here will will go up. We should that's stability. That's the stability. Or things like that are priced at Michael Conway of Conway well group I'm Fred I think Alan this is.