Financial News for the Week Ending April 13th

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

US stock markets posted another week of strong performance and its best since the first week of the year.   The S&P 500 gained 2.3% and the Dow rose 2.1% reaching fresh records during the week.  Internationally, Europe rose 1.8% and Japan continued to soar on its easy money policies up 5.1%.  The 10 year treasury yield finished the week slightly higher at 1.721% as weak economic news kept demand high.  Article

Gold has fallen precipitously in recent weeks dropping 4.7% for the week to finish at $1,501 an ounce.  It’s at its lowest level since July 2011 as investors have become less concerned with inflation and willing to move into equities.

Retail sales fell 0.4% in March as consumers appear to be spending more cautiously. Consumer sentiment dropped to its lowest point in 9 months as well.  Article

Alcoa kicked off earnings season with a 59% rise in profits, which beat expectations.

JC Penney ended the disastrous run of CEO Ron Johnson by firing him.  The much heralded former Apple executive tried to overhaul the retailer, but his changes resulted in plunging sales. 

Worldwide shipments of laptops and desktops dropped 14% in the first quarter from the year earlier.  The largest drop since the data has been tracked.

Both Wells Fargo and JP Morgan reported declining revenue in the first quarter as the home refinancing boom has subsided.  Article


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

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 herein 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. Source: FMG Suite, LLC.
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