All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks had a bounce back week on strong earnings reports. The S&P 500 rose 2.7% and the Dow was up 2.4% for the week. Internationally, Europe gained 1.1% and Japan rebounded 4.0%. The yield on the 10 year Treasury bond rose over the week ending at 2.72%. Article
Retail sales rose 1.1% in March for the best increase in a year and a half. February was revised higher to 0.7%. Article
China’s 1st quarter GDP of 7.4% came in below the fourth quarter level and below the country’s target growth rate of 7.5%. However, the growth rate was higher than estimates. Article
Pending home sales are down 11% from a year ago.
Citigroup, Goldman Sachs, Morgan Stanley, and GE posted earnings reports that topped expectations, while IBM, Google and BofA posted first quarter results that disappointed.
The first quarter had the highest combined values of all corporate transactions since 2007.
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