All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
Global stocks rose over the week on better than expected earnings reports. The S&P 500 rose 1.6% while the Dow gained 1.8% for the week. Abroad, Japan shot up 6.4% and Europe jumped 3.3% for the week. The yield on the 10 year Treasury edged up slightly finishing at 1.75%. Oil prices edged up on hopes of a production freeze; a barrel sold for $40.36. Article
Retail sales fell 0.3% in March for the third straight month of flat or decline sales.
The CPI rose 0.1% in March for the first time in four months. Compared to last year prices rose just 0.9%, while core prices rose 2.2%.
China’s GDP rose 6.7% in the first quarter down from 6.8% in the fourth quarter, however there are some signs that recent stimulus measures are having an impact.
US Industrial output fell 0.6% in March, a sign of weakness in US manufacturing and energy.
Earnings season kicked off with Wall Street banking posting better than expected profits.
Goldman Sachs agreed to pay $5 billion to settle charges it misled investors with mortgage bonds it sold.
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