Financial News and Portfolio Management Discussion through December 17th

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

US stocks were relatively flat over the week as the Fed’s projections on future interest rate increases weighed on markets. The S&P 500 edged down 0.1% and the Dow rose 0.4% for the week.  Abroad, Europe gained 0.3% and Japan jumped 2.1% for the week.  With the Fed announcement the 10 year Treasury yield ended at 2.60% its highest yield in more than two years.  The US dollar hit a 14 year high on the news from the Fed meeting.  Article

The Fed elected to increase the Fed Funds rate for the second time in a decade raising it a quarter point to between 0.50% to 0.75%. They also showed more optimism about the economy increasing the expected interest rate increases in 2017 from two to three.  Article

China’s economy steadied in November posting solid numbers in retail sales and industrial production. With growth expected to be in line with its target.

China’s central bank extended hundreds of billions of Yuan to financial firms Friday in hopes of easing a liquidity crunch.

US housing starts fell 18.7% in November and remain at recessionary levels.

 

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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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