Financial News and Portfolio Management Discussion through January 22nd

US stocks fell for a third straight week on continued inflation worries as well as Russia’s military buildup near Ukraine. Stocks posted their worst week in over two years. The S&P 500 was down 5.7% and the Dow fell 4.6% for the week. The Nasdaq ended the week down 15% from its all-time high, set in November. Abroad, the FTSE All World Ex US lost 1.87% for the week. The yield on the 10-year Treasury was relatively flat ending the week at 1.76%.

Oil prices reached their highest level since 2014, pushed higher on Middle East tensions.

Home sales surged to a 15-year high in 2021, powered by low borrowing rates and an intense buyer demand.

China grew at a 4% pace in the fourth quarter, it’s worst growth rate since the beginning of the pandemic. For the year, the country saw 8.1% GDP growth.

China cut two key interest rates in response to weakening growth.

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