Financial News and Portfolio Management Discussion through January 21st

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

US stocks eased over the week as investors await changes by the new administration. The S&P 500 ticked down 0.1% and the Dow dropped 0.3% for the week.  Internationally, Europe fell 0.9% and Japan 0.8% for the week.  The yield on the 10 Year Treasury rose to 2.48% over the week, the highest level in 2017, as inflation expectations increased.  Article

The CPI rose 2.1% in December over the trailing year, rising above the 2% level for the first time in 2.5 years.

ECB chief Draghi stated they would continue with their stated plans of buying bonds through the end of the year.

China posted a 6.7% GDP growth rate for 2016 as the easy credit and state spending initiatives aided the economy.

In a speech Fed Chief Janet Yellen stated they would continue to look to raise the fed funds rate cautiously and gradually.

Morgan Stanley, Goldman and Citigroup all posted earnings that topped estimates as big banks gained on a surge in trading to end the year.

BAT agreed to take full control of Reynolds in a $49.4 billion deal.



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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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