Financial News and Portfolio Management Discussion through April 23rd

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

U.S. stocks posted another week of declines. The S&P 500 fell 2.7% and the Dow was down 1.9% for the week. Foreign stocks also declined with the FTSE All World Ex US down 0.8% for the week. Negative effects from Russia’s invasion of Ukraine, high inflation, and Covid lockdowns in China continued to push global markets lower. US crude ended the week at $102.07 per barrel down from $106.95 the week prior. The 10-year Treasury yield rose to 2.90% from 2.83% the week prior.

Fed chief Powell indicated the central bank was likely to raise interest rates by a half percentage point at its next meeting.

US home prices hit a record in March up 15% versus the year prior, despite rapidly rising mortgage rates.

Corporate earnings continue to be strong with about 80% of S&P 500 companies that have reported beating expectations.

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.
Bookmark this page