The outlook for markets and the overall economy remains gloomy moving into 2016. The Chinese selloff, spurred by an upcoming GDP report and Yuan volatility, continues at a rapid pace with strong ripple effects being felt in European and American markets.
Commodities seem to have lost their bottom as base metals fall for the second straight week and oil futures dip below $30 and remain down 10 percent for the week. Furthermore 2015 Q 4 earnings, the fundamental driver of markets, begin to be released today with forecasts calling for drops in profits of 5 percent led by the key energy, materials and industrial sectors.
"Even the bright spot of the economy, the consumer, exhibited some weakness in the latest retail sales report, down 0.1 percent in December. As we head into this turbulent year remember how global diversification may help mitigate losses", says Voya Global Perspective.
