All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks hit new record highs on solid corporate earnings and expectations on tax reductions. The S&P 500 rose 0.8% and the Dow rose 1.0% for the week. Internationally, Japan soared, up 2.5% and Europe rose 0.9% for the week. The yield on the 10 year treasury eased to end the week at 2.41%. Article
With 360 firms in the S&P 500 reporting earnings, companies are on pace to report a 5% growth in profits compared to the 3.2% expected at the end of 2016.
European corporations are on pace to post their first profit since 2012 and their strongest growth in five years.
A judge blocked the merger of insurers Anthem and Cigna likely derailing the deal.
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