Financial News and Portfolio Management Discussion through December 18th

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

US stocks fell over the week on concerns over the Omicron variant and inflation. The S&P 500 dropped 1.9% and the Dow fell 1.7% for the week. Abroad, the FTSE All World Ex US edged down slightly 0.1% for the week. The yield on the 10-year Treasury fell to end the week at 1.40% down from 1.49%.

Producer prices surged a higher than expected 9.6% in November over the past year, the highest since tracking began in 2010.

US retail sales rose just 0.3% in November, below expectations.

At the conclusion of the Fed’s policy meeting they announced a plan to curtail their bond buying program by next March and the potential for three Fed Funds rate increases next year. It’s a significant change from their projections just a month ago.

The Bank of England elected to raise its benchmark interest rate by 0.15% to 0.25%. It was the first major central bank to raise its benchmark interest rate since the pandemic began.

The ECB said it would not adjust its benchmark rate until inflation remained above its target rate for some time. The bank said it was unlikely to raise its benchmark rate next year. It also said it would phase out its bond buying program, but boost other stimulus measures.

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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