Financial News and Portfolio Management Discussion through January 23rd

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

US stocks climbed on strong corporate earnings. The S&P 500 rose 1.9% and the Dow was up 0.6% for the week both hitting new record highs.  Abroad, the FTSE All World Ex US gained 1.4% for the week.  The yield on the 10-year Treasury was flat for the week ending at 1.10%.

China posted GDP growth of 6.5% in the fourth quarter.  For the year the economy grew 2.3% despite the pandemic.  It was the only major world economy to see growth in 2020.

Initial jobless claims eased slightly to 900,000 for the past week.

Business activity in the US picked up pace to start 2021, while Europe showed an increasing risk of a second recession.

To date 88% of companies that have reported earnings have beaten earnings estimates.

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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