Financial News and Portfolio Management Discussion through February 11th

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

US stocks were relatively flat as concerns over international growth and trade weighed on stocks.  The S&P 500 was flat, while the Dow rose 0.2% for the week.  Internationally, Europe fell 0.5% and Japan slumped 2.2% for the week.  The yield on the 10-year Treasury fell from the previous week to finish at 2.63%.

The nonmanufacturing purchasing managers index fell in January compared to December.

German factory orders fell in December unexpectedly and Industrial production in Germany and Spain fell, missing expectations.

The European Commission cut its forecast for eurozone growth in 2019 to 1.3% down from the projected 1.9% in November.

The Bank of England held interest rates steady.

A White House economic advisor said the US and China were still far apart from a trade deal.

Famous bond fund manager Bill Gross announced he was retiring from fund management.

With 47% of S&P 500 companies reporting, profits are on pace to rise 12%.

BB&T and SunTrust agreed to merge to create the 6th largest US bank.

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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