Financial News and Portfolio Management Discussion through April 28th

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 down week on an increase in interest rates and mixed earnings reports.  The S&P 500 edged down 0.1% and the Dow fell 0.6% for the week.  Internationally, Japan rose 1.4% and Europe gained 0.7% for the week.  The yield on the 10 year Treasury rose for the fourth straight week ending at 2.96%.  Article

The 10-year Treasury yield hit the 3% level for the first time since early 2014, a signal of strength in the economy.

The US economy grew at a 2.3% pace in the first quarter.  The pace topped economists’ estimates, but was a slowdown from the fourth quarter.  Growth was driven by business’ stronger revenue and investment, while consumer spending rose at its slowest pace in 5 years.  Article

Alphabet posted strong earnings growth, but expenses rose more than expected.

Caterpillar said its strong first quarter earnings could be the high water mark for the year.

Facebook posted strong earnings and revenue gains despite the recent scandals.

Samsung posted its fourth straight quarter of record profit.

The Dept. of Labor is now looking into whether Wells Fargo acted inappropriately moving individuals from 401k plans to more expensive IRA accounts.

Amazon posted its best revenue growth in over six years and earnings doubled, topping $1.6 billion.  The results well surpassed investor expectations.

With over half of S&P 500 companies posting first quarter earnings, firms in the index are on track to have earnings growth of 23% over last year.

 

 

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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