Financial News and Portfolio Management Discussion through April 18th

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

New worries about Greece exiting from the eurozone combined with economic concerns to sink global stock markets for the week.  The S&P 500 fell 1.0% and the Dow eased 1.3% for the week.  Internationally, Japan dropped 1.3% and Europe sank 2.2% for the week.  The 10 year Treasury yield fell to 1.85% as investors moved to the safe haven investment.  Oil ticked up again to end the week at $55.74 a barrel.   Article

Retail sales rose 0.9% in March, but the number came in below expectations as consumers continue to hold back spending over recent months.  Article

China’s economy grew at a 7% rate in the first quarter, its slowest pace since 2009.  Article

US Industrial production, which measures the output of manufactures, utilities and mines fell 0.6% from February, worse than expected, and posted the first quarterly decline since the recession.

Fed officials recent comments have shown a rate increase in June is unlikely.

The CPI-U rose 0.2% in March.  Over the past year prices edged down 0.1%, but core inflation rose 1.8%.  Article

Nokia agreed to buy Alcatel-Lucent for $16.6 billion in stock in a deal that would create a European telecom giant.

Intel, JP Morgan, Wells Fargo, Goldman Sachs, Citigroup, Blackstone, Netflix and GE all posted positive earnings reports , while American Express, Bank of America, Schlumberger disappointed.

 

 

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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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