Financial News and Portfolio Management Discussion through April 27th

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 at all-time highs on solid economic news and corporate earnings.  The S&P 500 gained 1.2%, while the Dow ticked down 0.1% for the week.  Internationally, Japan rose 0.3% and Europe edged up 0.1% for the week. The yield on the 10-year Treasury came down over the week ending at 2.51%.

The US economy grew better than expected in the first quarter posting a 3.2% GDP growth rate.

Existing home sales fell 4.9% in March.

New home sales rose 4.5% in March over February, well above expectations.

Long lasting factory goods rose at the fastest pace in 7 months and durable goods jumped 2.7% in March.

With more than 100 of S&P 500 firms reporting results to date 79% have beaten profit estimates.

 

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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