All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks rose over the week on generally positive earnings reports. The S&P 500 posted a 0.5% gain, while the Dow rose 0.6% for the week. Abroad, Japan surged 4.4% and Europe rose 1.7% for the week. The yield on the 10 year Treasury ended the week at 1.89% rising 0.14% as investors moved away from safe havens. Oil rose 4.8% over the week to finish at $43.73 a barrel, its 8th weekly rise in 10 weeks, despite OPEC failing to reach an agreement to cut production. Article
Initial jobless claims fell to the lowest level since 1973.
The ECB left it policies unchanged after its most recent meeting, but left the door open for further interest rate cuts.
Of the companies in the S&P 500 that have reported results to date, 73% have beaten expectations.
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