The Market Wrap 29-1-16

By Jason Fittler

The market recovered from the lows of the start of the year, but there is still nothing to get overly excited about.
The market opened the week at 4930 hits highs of 5009 and closed at 4980 putting on 50 points for the week or up 1%.
The energy and materials sectors recovered this week showing some sign of life. Nickel continues to be in over supply affecting Nickel players around the world with around 70% of Nickel companies in the Red.
There were two mines in Western Australia placed in minimum staff only mode this week with some 100 plus employees stood down. 
Unemployment is still the key to the economy recovery however we will jobs, no big surprise.
What we are seeing at present is the tail end of the GFC and we fully expect that unemployment will remain high for now.
In these times, it is important to buy the underperforming company with a long-term view. See it as if you are getting a discount or a mark it all down sale.
We continue to focus on companies providing high levels of income.
I expect a recover in 2017 for the economy; as such, the market will remain volatile.