Financial News and Portfolio Management Discussion through November 14th

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

Global stocks surged over the week on news of highly effective vaccine results with US stocks ending the week at a new record high.  The S&P 500 rose 2.2% and the Dow surged 4.1% for the week.  Abroad, the FTSE All World Ex US climbed 2.9% for the week.  The yield on the 10-year Treasury rose over the week to end at 0.89%.

Results from a vaccine candidate from Pfizer showed 90% effectiveness, much higher than anticipated.

Coronavirus hospitalizations set a new record on Wednesday, while a record 150,00 new cases were reported on Thursday.

New US jobless claims fell to their lowest level since March at 709,000.

With most S&P 500 companies reporting earnings, analysts project profits fell 7.5% from a year earlier, much better than the expected 21% drop.

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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