Financial News and Portfolio Management Discussion through April 2nd

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

U.S. stocks ended the week relatively flat, with the S&P 500 up 0.1% and the Dow down 0.1% for the week. Foreign markets outpaced domestic markets, with the FTSE All World Ex US up 1% for the week. The 10-year Treasury yield fell to 2.38% from 2.49% the week prior. US crude ended the week at $99.38 per barrel down from $113.90 the week prior.

The U.S. labor market strengthened as employers added 431,000 jobs in March, slightly below the estimated 490,000. February totals were revised up to 750,000 from 678,000. The unemployment rate fell to 3.6% down from 3.8% a month earlier.

For the first time since 2019, the yield on the two-year Treasury closed above the yield of the 10-year Treasury.

Rates for a 30-year fixed-rate mortgage jumped to 4.67%, the highest since December 2018.

The US plans to tap as much as 180 million barrels of oil reserves to help bring down high fuel prices.

The eurozone’s headline inflation rate hit 7.5% in March, another record high, as the war in Ukraine pushed energy and food prices higher.

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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