US Stocks edged down over the final trading week of the year. The S&P 500 fell 0.4% and the Dow ticked down 0.1%. International stocks edged down as well with Europe declining 0.3% and Japan fell 0.6%. The yield on the 10 year Treasury finished at 2.40% down from 2.48% from the previous week. Oil prices ended the year at their highest level since June 2015 at $60.42 a barrel. Oil inventories have correspondingly fallen to their lowest levels since October 2015. Article
Holiday shopping from Nov 1st through Christmas Eve rose 4.9% this year well outpacing expectations. It was the best sales pace since 2011.
Initial jobless claims held near record lows.
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