Financial News and Portfolio Management Discussion through February 27th

All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.

Global stocks posted their second consecutive week of gains on positive economic news and rising oil prices. The S&P 500 rose 1.6% and the Dow gained 1.5% for the week. Internationally, Japan rose 1.4% and Europe gained 1.6% for the week. The yield on the 10 year Treasury edged up slightly for the week to 1.77%. Oil rose 3.2% over the week to finish at $32.78 a barrel.  Article

Existing home sales spiked 0.4% in January for the best sales pace since July. Home prices have also risen with price up 5.4% in 2015 per the S&P/Case Shiller Home Price Index.  Article

Durable goods orders rose 4.9% in January, reversing recent declines.

Consumer spending rose at 0.5% in January, its fastest pace in 8 months.

Revised 4th quarter GDP showed growth at 1.0% up from the previously estimated 0.7%.  Article

The price index for personal consumption expenditures, what the fed favors for inflation, was up 1.3% over the past year in January. While still below the Fed’s target of 2.0%, it is significantly from the 0.7% annual gain posted a month earlier.  Article

Earnings are on track at S&P 500 firms to drop for three straight quarters. With 95% of S&P 500 companies reporting, earnings have dipped 3.6% from a year ago in the fourth quarter.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.
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