Financial News and Portfolio Management Discussion through January 2nd

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

US stocks ended the week and year at records highs on the signing of another stimulus bill.  The S&P 500 climbed 1.4%, while the Dow was up 1.3% for the week.  Abroad, the FTSE All World Ex US rose 1.3% for the week.  The yield on the 10-year Treasury yield was flat for the week ending the year at 0.93%, but down one percentage point from where it started the year.

President Trump signed the relief bill to provide additional support for consumers and businesses.

US retail sales rose 2.4% from Nov 1st to Christmas Eve compared to 2019.

The EU reached a trade agreement with the UK over its exit from the country bloc averting an abrupt exit at the end of 2020.

Home price growth picked up and home sales hit a 14 year high in October.

China finished the year with its 10th consecutive month of manufacturing growth.

IPOs set a record in 2020 with $167.2 billion raised.

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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