Financial News and Portfolio Management Discussion through November 28th

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

US stocks gained over the holiday shortened week ending at a record high on optimism over vaccines for COVID-19.  The S&P 500 rose 2.3% and the Dow climbed 2.2%, crossing the 30,000 point level, for the week.  Abroad, the FTSE All World Ex US gained 2.2% for the week.  The yield on the 10-year Treasury was flat for the week ending at 0.84%.

AstraZeneca reported their vaccine was up to 90% effective in clinical trials and would not need to be transported below freezing.  It’s the third vaccine found to be highly effective against COVId-19.

US business activity reached its highest level in more than five years.

Initial jobless claims rose for a second straight week to 778,000.  It’s the first time it’s risen over two straight weeks since July.

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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