Financial News and Portfolio Management Discussion through March 12th

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

U.S. stocks finished the week lower as the war in Ukraine continues and inflation hits another four-decade high. The S&P 500 declined 2.8% and the Dow fell 2% for the week. Foreign markets fared better, with the FTSE All World Ex US down 0.7% for the week. The 10-year Treasury yield jumped to 2% from 1.72% the week prior.

The consumer price index climbed to 7.9% in February, matching expectations. The producer price index, month over month, rose 0.8% versus 0.9% estimated.

The US banned Russian oil and other energy sources adding pressure to already high U.S. gasoline prices. The national average price for regular gasoline hit $4.065 a gallon, the highest price since July 2008. US crude rose to over $123 per barrel before ending the week at $109.33.

The House and Senate passed a $1.5 trillion package to fund the federal government for the current fiscal year and send aid to Ukraine.

China set its goal for economic growth this year at 5.5%. Economists believe this paves the way for more-aggressive stimulus measures in the near future.

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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