Financial News and Portfolio Management Discussion through December 25th

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

US stocks hit a new all-time high as concerns eased over the degree of impact from the Omicron variant. The S&P 500 climbed 2.3% and the Dow gained 1.7% for the week. Abroad, the FTSE All World Ex US rose 0.7% for the week. The yield on the 10-year Treasury edged up to end the week at 1.49% compared to 1.40% at the end of last week.

Biden’s $2 trillion social spending package was thrown into doubt as Senator Manchin said he would not support it.

Existing home sales rose to their highest rate since January and are on pace to have their best year since 2006.

December consumer confidence was higher than expected.

Initial jobless claims remained historically low at 205,000.

Consumer spending rose 0.6% in November down from a 1.4% gain in October.

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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