The First Positive Close of the Year

The first week of 2016 has ended with the stock market closing higher than at the beginning of the week. Among the factors that helped the stock market close in a higher position than at the beginning of the week is the recovery of the oil prices. Among the influences of the oil prices was the hopeful outlook when it comes to the chances of a stimulus in the oversea regions. This has definitely proven to be a good week with other factors being considered. Chris Gaffney has stated that the market all hinges on the oil. People were at least able to slow down the fall of oil and getting it to rise in prices.

Expert investors definitely see this as a good sign. According to Joe Sowin of Highland Capital Management, the week came as a result of short covering. Joe Sowin works for Highland Capital Management as the head of global equity trading. Highland Capital Management was founded by James Dondero. Jim himself is one of the most successful traders in his industry. He also shows people who work for him the ins and outs of successfully trading in the market. Jim Dondero has over 30 years of experience trading in the stock markets.

James Dondero currently lives in Dallas TX, where he oversees the investment strategies of his hedge fund for both institutional and retail products. He has not only worked in the industry, but he has been a huge influence in the industry with the pioneering of the Collateralized Loan Obligation. With James Dondero’s management, plenty of funds have been given quite a bit of recognition and accolades. One award that James Dondero was given is the 5 star Global Allocation award back in 2014. He was also given the award for being the highest rank Equity Fund for Healthcare.

For the opening week of the year, the stocks in the U.S. have closed in an average of 0.5 percent higher at the least. Among the best performers of the stock market is Nasdaq closing at 2.3% higher than when it opened for the week. Given the higher close for the week, overall the stocks in the U.S. were still a lot lower for the year. There are some who believe that this is in response to the possibility of another recession. Bernie Williams says that this is close to being an overreaction to the fear of recession. Follow James on Facebook and Twitter to stay up to date on the stock market.

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