All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks fell over the week on weak economic data and corporate earnings concerns. The S&P 500 and Dow sank 2.3% for the week. Internationally, Japan was down 1.4% and Europe slumped 2.1%. The 10 Year Treasury yield ticked up slightly over the week ending at 1.95%. Oil remains below $50 a barrel. Article
US existing home sales rose 1.2% in February from January and are up 4.78% from last year. The median price rose 7.5% making it harder for buyers with limited supply.
The CPIU rose for the first time in four months by 0.2%, but was flat from a year ago.
New home sales jumped 8% in February, the highest pace since early 2008.
Durable goods orders sank 1.4% in February showing that companies remain cautious to spend.
Japan posted no inflation growth over the trailing year ending in February spurring worries about deflation and whether the drastic stimulus measures under taken two years ago are working.
The final estimate of fourth quarter growth came in line with the previous estimate of 2.2%, while economist expected an upward revision.
In a speech Feed Chairwomen Janet Yellen laid out a gradual path for raising interest rates with small increases in hopes to not undermine the slow pace of current economic expansion.
Heinz and Kraft agreed to merge in a $49 billion deal.
Corporate profits rose 2.9% in 2014 down from the annual pace of 5.9% in the third quarter showing the strengthening dollar and middling global demand have dented corporate profit growth.
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