All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
Global markets sank over the week on declining energy prices concerns over lower rated companies.. The S&P 500 fell 3.8% and the Dow dropped 3.3% for the week. Internationally, Europe was off 4.0% while Japan was down 1.3% for the week. Oil prices continue to fall dropping 10.9% for the week to $35.62 barrel. Junk bonds plunged as well dropping 3.9% for the week. The yield on the 10 year Treasury fell over the week as investors sought safe havens dropping to 2.13%. Article
China’s exports declined 6.8% from a year earlier for the fifth straight month of declines.
China moved the Yuan to its lowest level in over four years trying to balance markets forces with preventing a sharp decline.
US retail sales edged up 0.2% in November after several months of flat spending.
Dow and DuPont officially announced their plans to merge creating a $120 billion chemical giant before splitting into three companies.
JAB holding agreed to buy Keurig Green Mountain for $13.9 billion.
Kinder Morgan announced it was cutting its dividend by 75% and Anglo American said it would cut 85,000 jobs over the next few years as the commodities slump weighs on producers.
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