Financial News and Portfolio Management Discussion through April 4th

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

US stocks gained slightly over the week on some positive economic and corporate news.  The S&P 500 and Dow edged up 0.3% in the shortened week.  Internationally, Japan gained 0.8% and Europe was up 0.6%.  The 10 year Treasury yield sank to end the weak on the job market news, falling to 1.85%, while the stock market was closed.  Investors now expect the Fed to not raise rates until at least December.   Article

The March Jobs reports disappointed as the number of new hires plummeted to 126,000, the weakest hiring rate in 15 months.  Hiring estimates were revised down for both January and February as well. The unemployment rate remained steady at 5.5%.   Article

Auto sales ticked up slightly in March.

US manufacturing growth fell for the fifth consecutive month and is at its lowest level since May 2013.

Weekly jobless claims fell to a 15 year low and factory orders gained 0.2% while a decline was expected.

Consumer spending was up only slightly in February as severe winter weather weighed on spending.  It rose 0.1% after two monthly declines.

The personal consumption expenditures price index, the Fed’s preferred inflation gauge, rose 0.3% in February, but is still well below the Fed’s target.

 

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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

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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