Mackenize, Bullock: Interest rate rises will be main hurdles in the path of equities

"...Sustainable job creation looms as the crucial factor in the months ahead.

Alan Ruskin, strategist at RBS Securities, says the median equity rally for the S&P after a positive turn in US employment following a recession has been a further gain of 58 per cent.

"This cycle is different, but a look at a history of US employment and equity cycles strongly suggests most risk rallies are far from mature when non-farm payroll shifts from negative to positive," he adds..."