Financial News and Portfolio Management Discussion through March 5th

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

Global stocks powered to another weekly gain on positive economic news. The S&P 500 rose 2.7% while the Dow gained 2.2% for the week. Internationally, Europe rose 3.1% and Japan soared 5.1% for the week. The yield on the 10 year Treasury rose to 1.88% as investors moved away from safe havens. It’s the highest level since January. Oil also rose close to 10% for the week to finish at $35.92 a barrel.  Article

US employers added 242,000 jobs in February and January and December were revised up 30,000. The unemployment rate held steady at 4.9% while labor force participation rose to its highest level in a year. However, wage growth eased growing at a 2.2% rate.  Article

US manufacturing posted its best reading since September, US auto sales rose and construction spending rose in January.  Article

Pending home sales fell 2.5% in January due to higher prices and less inventory.

Japan issued 10 year bonds with negative yields for the first time.

Chinese manufacturing activity fell to its lowest level in over four years. China’s central bank lowered banks reserve requirement to free up more funds for lending.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

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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