Financial News and Portfolio Management Discussion through February 13th

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

Stocks continued their recent climb on optimism over stimulus, corporate earnings, and the vaccine rollout.  The S&P 500 rose 1.2% and the Dow was up 1.0% for the week.  Abroad, the FTSE All World Ex US climbed 2.2% for the week.  The yield on the 10-year Treasury rose to 1.20% from 1.17%, ending at its highest level since February 2020.  Oil has surged recently ending the week at $59.47 a barrel its highest level since January 2020.

Newly reported COVID-19 cases have dropped 56% in the past month.

US January inflation was flat when an increase was expected.

Initial jobless claims dropped to 793,000, showing improvement.

Fed Chair Powell said the Fed is unlikely to consider raising interest rates or reducing bond purchase for the foreseeable future.

With 72% of companies reporting earnings to date 80% have reported that have topped expectations.

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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