All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks saw their streak of weekly gains snapped as oil prices fell and the potential for a Fed move this summer increased. The S&P 500 fell 0.7% while the Dow eased 0.5% for the week. Internationally, Japan rose 1.7%, but Europe was off 1.9% for the week. The yield on the 10 year Treasury bill rose slightly to 1.90%. Article
Fourth quarter GDP was revised higher to 1.4% from the previously reported 1.0%. The number was driven higher by consumer spending and despite weakness from corporate profits. Article
Durable goods orders fell 2.8% in February from January showing weak global growth is pulling down corporate spending.
US natural gas output reached its highest level ever during the winter resulting in a large supply glut.
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