Financial News and Portfolio Management Discussion through January 29th

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

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

US Stocks closed the week once again at new record highs driven by strong corporate earnings and economic data. The S&P 500 jumped 2.2% and the Dow surged 2.1% for the week. Internationally, Japan fell 0.7% and Europe % for the week. The yield on the 10 year Treasury finished the week at 2.66%, continuing its recent trend higher. It’s risen 26 basis points since the start of 2018.  Article

Jerome Powell was confirmed as the new chairman.

New tariffs outlined by the Trump administration have increased global trade tensions.

Previously owned home sales slowed in December but overall 2017 was the best year for the housing market since the mid 2000’s. Existing home sales fell 3.6% in December. Inventory is currently at its lowest level since tracking began in 1999. New home sales eased in December but posted a full year of strong growth.

GDP grew2.6% in the 4th quarter, falling short of expectations and the pace of the past two quarters, but above the 2% average since the early 2000s. GDP growth was 2.5% for all of 2017 the most in three years.  Article

Of the roughly 25% of companies in the S&P 500 to issue earnings reports to date, 77% have beaten estimates. Earnings are on pace to rise 12% from last year.

 

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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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