Financial News for the Week Ending March 30th

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

The S&P 500 hit a new all time high to close out the month of March.  The Dow hit a new all time high as well as investors are growing increasingly confident in the U.S. economic recovery.  For the first quarter the Dow has gained 11.3% and the S&P rose 10%.  It’s the best start to the year since 1998 for blue chips.  Article

Positive economic news continues to come in.  Home prices increased 8.1% in January from a year earlier, the largest gain in 6 and a half years.  The final revision of GDP was moved up to 0.4% for the 4th quarter of 2012 up from 0.1%, and the economy’s growth prospects for the first quarter improved as consumer spending rose 0.7% in February.  Article

Cyprus reached an agreement with its creditors and will receive a bailout which will keep the country in the euro zone.  The deal provides a $13 billion loan for the country, closes the country’s second largest bank and imposes losses on deposits greater than 100,000 euros.   Article

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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