All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks posted one of their worst weeks of the year as investors feared the fallout from a Crimea vote to succeed from the Ukraine. The Dow sank 2.4% for the week while the S&P 500 dropped 2%. Internationally, stocks saw an even heavier drop with Japan falling 6.2% and Europe down 3.3%. The yield on the 10 year Treasury bond ended the week at 2.65% as investors sought safe havens. Article
Japan revised their 4Q GDP to 0.7% from the earlier projection of 1.0% showing the country is on rockier footing.
A drop in Chinese exports surprised economist and raised more concerns over Chinese growth.
US retail sales rose 0.3% in February from January despite the havoc raised by the weather, a positive sign for the economy. Article
More weak growth news emerged from China as industrial output in the January and February period was 8.6% compared to 9.7% in December. Also, fixed asset investment growth, and retail sales both eased. Article
Jos. A. Bank was purchased by Men’s Warehouse for $1.8 billion.
Quiznos filed for chapter 11 bankruptcy aiming to reduce its debt load by two thirds.
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