All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US Stocks closed the week at new all time highs driven by continued strong corporate earnings and global growth. The S&P 500 rose 0.9%, closing above 2,600 for the first time, and the Dow climbed 0.9% for the week as well. Internationally, Japan and Europe gained 0.7% for the week. The yield on the 10 year Treasury ended the week slightly lower at 2.34%. Oil reached its highest close since June 2015 at $58.95 a barrel on lower stockpiles and expected production cuts. Article
Minutes from the Fed’s end of October meeting showed they remained on pace for a December rate increase and more rate increases in 2018.
The Justice Dept. sued to block the AT&T Time Warner merger.
HP CEO Meg Whitman announced she would step down early in 2018.
Companies are on pace to spend the least amount on buybacks since 2012.
Loan growth at US banks it hits lowest level since 2013 marking the sixth straight quarter of decline.
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