Financial News and Portfolio Management Discussion through February 24th

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

Stocks rallied to end the week as the advance in interest rates relaxed.  The S&P 500 gained 0.6% and the Dow rose 0.4% for the week.  Abroad, Japan climbed 0.8% and Europe edged up 0.1% for the week.  The yield on the 10 year Treasury ended flat for the week at 2.87%.   Article

In the minutes from the Fed’s January meeting they signaled increasing confidence in the US economy and held steady to their plan to raise interest rates three times this year.  The confident outlook in the economy led many investors to wonder if they may accelerate their current plans.  The next increase could come as soon as March.  Article

Albertsons announced it would buy the rest of Rite Aid that isn’t being sold to Walgreens.

Walmart had troubles with its online inventory weakening sales in the fourth quarter.

Toys-R-US announced it would close 200 more stores and cut staff as it posted weak holiday sales. 

 

 

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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