Financial News and Portfolio Management Discussion through February 13th

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

Stocks rallied to end the week, but overall stocks sank over the week on the familiar themes of global growth concerns, low oil prices and central bank moves.  The S&P 500 was off 0.9% while the Dow sank 1.4% for the week.  Internationally, Japan plummeted 11.1% and Europe plunged 4.1% for the week.  The yield on the 10 year Treasury plunged to 1.75% over the week as investors sought safe havens.  Oil prices surged to end the week on potential output cuts, jumping over 12% on Friday, but still ended the week down 4.7% at $29.44 a barrel.  Article

In testimony before congress Fed Chief Yellen said the Fed would take a cautious look at future interest rate increases due to the increasing risks to the economy seen in recent weeks.

Consumer spending rose 0.2% in January and December’s retails sales were revised from a decline to a 0.2% gain.

With over three quarters of companies in the S&P 500 having reported earnings roughly half have topped revenue expectations and earnings are on pace to fall 3.7% compared to the 4.7% projected.




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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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