All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks posted their fourth straight week of gains aided by an increase in oil prices, moves by the ECB and generally improving economic numbers. The S&P 500 rose 1.1% while the Dow gained 1.2% for the week. Internationally, Japan fell 0.5%, while Europe edged up 0.1% for the week. Oil rose to $38.50 a barrel. With the improving economic numbers investors moved away from bonds and the yield on the 10 year Treasury rose to 1.98%, the highest level since the end of January. Article
The ECB announced new stimulus measures in hopes of spurring growth in the eurozone. They will increase monthly bond purchases by 20 billion euros above the current 60 billion, expand purchases to highly rated corporate bonds, lower all three of the ECB’s main interest rates and roll out four year loans to banks at rates so low the ECB could pay them to borrow. All the moves were more aggressive than expected. Article
China announced they are targeting a 6.5% to 7% annual growth rate.
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