Financial News for the Week Ending April 20th

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

US markets had their worst week of the year on disappointing earnings, plummeting commodity prices, and weaker than expected economic reports.  The S&P 500 and Dow dropped 2.1% for the week.  Internationally, markets were down as well with Europe sinking 2.5% and Japan falling 1.3%.  Investors moved into the safety of fixed income on growth worries as the 10 year Treasury fell to 1.707%.    Article

Gold prices continued their freefall hitting a two year low during the week before edging up to end the week.  Article

China’s economic growth eased in the first quarter surprising investors.  The GDP growth rate dropped to 7.7% from 7.9% in the 4th quarter of 2012 raising fears that quickening growth in second half of 2012 is already slowing in China.  Article

The CPI-U gained 1.5% in March over a year earlier below the fed’s 2% target.  The reading likely means the Fed remains comfortable with maintaining its easy money policies.

Citigroup, Goldman Sachs, American Express, Ebay, Google and GE all reported earnings that topped expectations, however many firms warned about growth moving forward.

Yahoo, Intel, Bank of America, Morgan Stanley, IBM, Microsoft and McDonald’s reported earnings that disappointed.

About

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 www.raffawealth.com

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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