Category: Weekly Updates

Weekly Updates

Financial News and Portfolio Management Discussion through May 27th

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

US stocks ended the week at fresh all time highs driven by the Fed meeting minutes and strong corporate earnings. The S&P 500 rose 1.4% and the Dow gained 1.3% for the week.  Internationally, Japan was up 0.5% and Europe was flat for the week.  The yield on the 10 year Treasury bond was flat for the week ending at 2.25%.  Oil prices fell 1.7% over the week on disappointment from the results of the OPEC meeting.

China’s credit rating was downgraded by Moody’s who cited concerns over the countries financial strength over the coming years. It downgraded it from Aa3 to A1.  Article

Minutes from the Fed’s May meeting were released and showed that the Fed felt it would “soon be appropriate” to raise short term interest rates. The statement confirmed investors’ expectations that an interest rate increase at the June meeting was on the table.  Article

US GDP rose 1.2% in the first quarter. It was revised up from the 0.7% originally estimated.

Huntsman Corp and Clariant are close to an agreement to merge that would create a chemicals giant worth approximately $14 billion.

Jim Hackett was tapped to replace Mark fields as CEO of Ford.

Earnings in the first quarter grew at the fastest pace in six years. Earnings of firms in the S&P 500 grew 13.6% from the year earlier period.

 

 

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

Financial News and Portfolio Management Discussion through May 20th

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

US stocks ended down for the week after controversies surrounding the Trump administration shook markets. The S&P 500 and Dow fell 0.4% for the week.  Internationally, Europe declined 1.0% and Japan sank 1.5% for the week.  The yield on the 10 year Treasury eased as investors moved to safe havens.  The yield fell to 2.24% to end the week.   Article

China’s economic activity slowed in many areas in April.

Home sales hit their fastest pace in a decade in the first quarter, rising 1.4%, and the national median home price surged 6.9% from a year ago.

Russia and Saudi Arabia released a joint statement saying additional production cuts were necessary through March of 2018. Oil prices rose 2%.

China’s central bank added $24.7 billion to markets to aid investor confidence, the most in four months.

Industrial production surged in April posting its beigest gain in over three years.

Japan’s economy picked up pace in the first quarter with GDP growth of 2.2%, above expectations.

Ford announced it was cutting 10% of its global workforce to improve profitability.

Europe is on pace to post a 16.2% jump in earnings per share in 2017 compared to a 10.5% jump in the US. First quarter earnings per share have grown 23% from a year earlier in Europe.

With nearly all of the S&P 500 firms reporting earnings they are on track to grow 13.9% from last year, the largest jump since 2011.

 

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

 

Financial News and Portfolio Management Discussion through January 3rd

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

US Stocks finished the week down on global economic concerns.   The S&P 500 sank 1.5% and the Dow fell 1.2% for the week.  Internationally Europe was down 0.7% and Japan dropped 2.1% for the week.  The yield on the 10 year Treasury bond dropped to 2.12% near the lows of 2014 hit in mid December.  Oil continued its fall finishing the week at $52.69 a barrel.  Article

The dollar moved to its highest level in 11 years against major currencies as investors believe the US the economy to be a better bet than most of the world.

The ISM manufacturing activity survey showed expansion in the US, but fell short of expectations.

Eurozone manufacturing growth was revised down for December and China’s manufacturing index fell to its lowest level in a year and a half.

China is relaxing lending standards in hopes of spurring growth.  The move is estimated to be the equivalent of $242 billion injected into the banking system.

Japan approved a $29.2 billion stimulus package in hopes of stoking growth.

A parliamentary vote to elect a president failed in Greece meaning that national elections will be held.  Those leading in the polls are against the current austerity measures that are required by the country’s rescuers, thus throws the country’s rescue into question.

The S&P/Case-Shiller home price index showed October home prices rose 4.6% from a year earlier down from September and the double digit growth pace at the end of the first quarter.

 

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

Financial News for the Week Ending June 14th

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

US stocks sank over the week on rising tensions in Iraq.  The S&P 500 dropped 0.7% and the Dow sank 0.9%.  Abroad, stocks were flat as Japanese stocks were up 0.1% and European stocks were down 0.1%.  Oil rose 4.1% to $106.91 a barrel on the mid east tensions.  Bonds were flat for the week.  Article

Japan revised its first quarter GDP rate from 5.9% to 6.7%.  Article

The World Bank dropped its forecast for global growth to 2.8% for the year.

The US had 4.5 million job openings in April, the highest in seven years.

May retail sales disappointed rising just 0.3%.  However, April sales were revised up to 0.5% from 0.1%.  Article

Tyson Food is buying Hillshire, maker of Aunt Jemima and Hungry man among others, for approximately $7.7 billion.  Article

Priceline agreed to buy OpenTable for $2.6 billion to add to its hospitality offerings.

 

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

Financial News for the Week Ending July 27th

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

US stocks ended the week relatively flat on mixed earnings reports and a pause before major economic news to come the following week.  The S&P 500 sank slightly less than 0.1% and the Dow gained 0.1% for the week.  Japan fell 3.2% for the week on a rising Yen and meager earnings and Europe was down 0.3%.  The yield on the 10 year Treasury bill rose slightly over the week ending at 2.56%.  Oil eased to finish at $104.70 a barrel.  Article

China displayed new signs of weakness as the preliminary manufacturers report showed manufacturing dropping to an 11 month low.

New home sales rose 8.3% in June and they are up 38% from year ago.

McDonalds, Netflix, AT&T, and Amazon all had earnings reports that fell short of expectations, while Apple, Boeing, Ford, Facebook, GM, and Samsung all had earnings that topped forecasts.

Advertising giants Omnicom and Pulicis agreed to merge in a $35.1 billion deal to make the largest ad agency in the world by revenue.

To date about half of the firms in the S&P 500 have reported earnings and it appears non financial corporations will post a decline in earnings for the first time since last fall.  Profit growth is appearing to stall unless economic growth begins to pick up.  Analysts expect a 1.8% increase in profits overall.

Renowned hedge Fund SAC Capital Advisors had charges brought against it by the SEC saying the firm carried out insider trading on a large scale.  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