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Financial News for the Week Ending February 22nd

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

US stocks posted a slight loss for the week as investors debated the degree to which weather has suppressed US economic growth.  The S&P 500 fell 0.1% and the Dow dropped 0.3%.  Internationally, Europe rose 0.8% driven by a truce in Ukraine and Japan was up 3.9% as incentives were increased for bank lending.  The 10 year Treasury yield eased over the week to finish at 2.73%.   Article

A preliminary reading of Chinese manufacturing activity in February fell to its lowest level in 7 months reigniting fears of more slowing growth from China.

New housing starts sank 16% and home sales fell 5.1%.

In the minutes released from the Fed’s January meeting some board members argued for raising interest rates sooner than previously stated. 

The CPI rose 1.6% in January for its highest yearly gain in 6 months.  

Facebook announced it is purchasing WhatsApp, a messaging company, for $19 billion in cash and stock.   Article

Coca-Cola posted weak revenue in its quarterly results, while Tesla and HP posted better than expected results.


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