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Job Market Roars, But Markets Could Still Test August 2015 Lows

Don’t start celebrating just yet. Even though the economy added a whopping 292,000 jobs in December, the markets could test their August 2015 lows, according to one expert. ‘It still does very much feel like we will – even with the big jobs number,’ said Nick Colas, chief market strategist at Convergex, a New York-based brokerage firm. ‘Come Monday, we’re going to refocus back on oil, which I don’t think is done going down - and on the global economy.’ The aforementioned low was reached back on August 25 of last year, when the S&P 500 hit 1,867. The broad index now stands at 1,943. Colas expects more volatility to return and is advising clients to look for high dividend paying stocks with quality balance sheets. TheStreet’s Scott Gamm in New York.
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