Financial News for the Week Ending December 29th

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

US markets sank on Friday after further efforts to find a solution to the fiscal cliff have fallen through.  The Dow dropped 1.2% for the day and 1.9% for the week and the S&P 500 sank 1.1% for the day and 1.9% for the week.  On the international side Japan rose 4.6% for the week and Europe was down 0.8%.  Treasurys rose on the fiscal cliff concerns with the 10 year Treasury yield falling to 1.712%.

The Yen hit a 27 month low against the dollar as the country announced it would initiate easy money polices to devalue the Yen. 

Negotiators were able to avert a strike by longshoreman that would have shut down ports from Boston to Houston. 

Early indications are that the 2012 holiday shopping season will have the most muted growth since 2008. 

The S&P Case-Shiller 20 city housing index showed a year over year gain for October of 4.3%.  Prices are up 6.9% since January and are on pace for the first yearly gain since 2006. 

Toyota has reached a settlement over a class action lawsuit as a result of unintended acceleration in its vehicles agreeing to pay $1.1 billion.  The company also announced it expected sales to increase by 2% in 2013.

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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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