All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks rose over the week on positive economic numbers and reassurance form the Fed that they will look to raise interest rates cautiously. The S&P 500 rose 1.8% and the Dow gained 1.6% for the week. Abroad, Japan sank 4.9% and Europe dropped 0.5% for the week. The yield on the 10 year Treasury eased over the week on Yellen’s dovish comments with the yield falling to 1.79%. Oil prices fell 6.8% finishing at $36.79 as supply levels remained high. Article
US employers added 215,000 jobs in March, in line with expectations. The unemployment rate ticked up to 5.0% as more people joined the workforce. Wages increased o.3% over February to bring annual wage growth to 2.3%. Article
US auto sales rose 3% in March, however the gain missed expectations and the amount of discounts used to attain the sales level have increased.
US manufacturing activity rose for the first time since last summer.
Consumer spending rose just 0.1% in February as consumers’ savings has reached its highest level since 2012.
Fed chief Yellen said in a speech that current global economic uncertainty could negatively impact the US economy and warrants a slower path of interest rate increases. The comments make it highly unlikely that interest rates will increase at the Fed’s April meeting.
Chinese manufacturing rose in March to show expansion for the first time in eight months.
The IPO market it at is slowest period in seven years.
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