Financial News and Portfolio Management Discussion through April 8th

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

US Stocks were flat for the week after digesting a variety of economic reports and US missile strike on Syria. The S&P 500 eased 0.3% and Dow edged down slightly for the week.  Internationally, Europe was flat, but Japan fell 1.3% for the week.  The yield on the 10 year Treasury edged down slightly to end the week at 2.38%.  Article

The jobs report fell well below expectations with only 98,000 jobs added below the 175,000 expected. In addition, the January and February reports were revised to show 38,000 less new hires.    However, the unemployment rate did drop 0.2% to 4.5%.  The average hourly earnings rose 2.7% in March from a year earlier in line with expectations.  Article

US manufacturing activity continued to expand in March, however at a reduced rate as compared to February.

Auto sales dipped in March.

Minutes from the Fed’s March meeting were released showing that it would likely begin shrinking a $4.5 trillion loan portfolio later this year.  Article

US firms in the S&P 500 are expected to post an 11.2% jump in earnings in the first quarter over last year, the strongest performance since 2011.

Tesla posted its best quarter to date with a sales increase of 69%. It is now the second most highly valued auto firm in the US behind GM.

Panera Bread agreed to sell its self to European investment fund JAB holding for $7.2 billion.

 

 

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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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