Financial News and Portfolio Management Discussion through April 15th

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

US stocks sank over the week on geopolitical concerns with Syria, Russia and North Korea. The S&P 500 sank 1.1% and the Dow eased 1.0% for the week.  Internationally, Japan fell 1.8% and Europe was off 0.2% for the week.  The yield on the 10 year Treasury fell to 2.24%, its lowest level since mid November, as investors moved into safe haven investments.  Article

Economist have lowered their growth forecasts for the first quarter and 2017 on increasing skepticism many of the campaign promises will materialize to same degree or at all.

Retail sales fell 0.2% in March from February and February was revised down from a 0.1% gain to a 0.3% decrease. It’s the first decline in two straight months since 2015.  Article

Inflation unexpectedly eased in March with the CPI U falling 0.3% from February. Excluding food and energy it fell 0.1%.

An internal Wells Fargo report slammed former CEO Stumpf over the bank’s sales scandal and the firm is clawing back $75 million in pay from former executives.

JP Morgan and Citigroup posted sharp increases in profit in the first quarter, but warned investors that the benefits of higher interest rates and Trump’s election won’t help the banks as quickly as many investors expected.

 

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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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