Financial News and Portfolio Management Discussion through April 7th

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

Stocks climbed over the week on optimism over the economic recovery.  The S&P 500 rose 1.1% ending the week at a new record high and above the 4,000 point level.  The Dow edged 0.2% for the week.  Abroad, the FTSE All World Ex US gained 0.7% for the week.  The yield on the 10-year Treasury yield edged down to 1.69%, to end the week relatively flat over the past week, but up substantially from earlier in the year.

Consumer confidence hit its highest level in March since the pandemic started.

US home prices are rising at the fastest pace in 15 years.

The ship that was stuck in the Suez Canal snarling global shipping and supply chains for 6 days was finally freed.

France instituted a new national lockdown as COVID-19 cases have jumped.

President Biden unveiled a $2.3 trillion infrastructure package.  The package would be paid for through increased corporate taxes, and faces significant challenges to be passed.

Factory activity in the US surged in March.

Eurozone factory activity grew at its fastest pace in over two decades.

OPEC and others affiliated with the group agreed to increase oil production by over two million barrels a day.

US auto industry sales are picking up pace to reach level seen before the pandemic.

The March jobs report blew past expectations with 916,000 new hires, the largest gain since August.  The unemployment rate dropped to 6%, the lowest level since the pandemic began.

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