Financial News and Portfolio Management Discussion through February 15th

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

US stocks ended the week at a new record high shaking off concerns over the coronavirus. The S&P 500 gained 1.7% and the Dow climbed 1.2% over the week. Abroad, the FTSE All World Ex US rose 0.4% for the week. The 10-year Treasury yield was relatively flat, ending at 1.59%.

In testimony before congress Fed chief Powell said they were watching the impacts of the coronavirus carefully, but the Fed planned to continue its wait and see approach to policy changes in the Fed’s benchmark rate.

Industrial production fell 0.3% in January.

Consumer sentiment climbed in February.

Retail sales rose 0.3% in January, the strongest pace since October.

The merger of T-Mobile and Sprint was approved by the US government.

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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