Financial News and Portfolio Management Discussion through February 27th

Stocks fell over the week on a sharp increase in interest rates.  The S&P 500 sank 2.4% and the Dow dropped 1.7% for the week.  Abroad, the FTSE All World Ex US declined 3.8% for the week.  The yield on the 10-year Treasury yield surged over the week hitting its highest levels in over a year before finishing the week at 1.46%.

In Congressional testimony Fed Chair Powell reiterated the Fed’s plans to keep the Fed Funds rate low for the foreseeable future as “the economy is a long way from our employment and inflation goals.”

Consumer confidence rose in February for the second consecutive month.

New home sales rose at a 19% annualized rate in January, higher than expected.

Initial jobless claims declined by 111,000 to 730,000, better than expected and the lowest level since November.

US consumer spending rose 2.4% in January after household income surged 10%.

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 herein 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. Source: FMG Suite, LLC.
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