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Financial News for the Week Ending March 30th

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

The S&P 500 hit a new all time high to close out the month of March.  The Dow hit a new all time high as well as investors are growing increasingly confident in the U.S. economic recovery.  For the first quarter the Dow has gained 11.3% and the S&P rose 10%.  It’s the best start to the year since 1998 for blue chips.  Article

Positive economic news continues to come in.  Home prices increased 8.1% in January from a year earlier, the largest gain in 6 and a half years.  The final revision of GDP was moved up to 0.4% for the 4th quarter of 2012 up from 0.1%, and the economy’s growth prospects for the first quarter improved as consumer spending rose 0.7% in February.  Article

Cyprus reached an agreement with its creditors and will receive a bailout which will keep the country in the euro zone.  The deal provides a $13 billion loan for the country, closes the country’s second largest bank and imposes losses on deposits greater than 100,000 euros.   Article


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