Financial News and Portfolio Management Discussion through January 26th

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 over the week as growth concerns mixed with solid earnings.  The S&P 500 fell 0.2%, while the Dow rose 0.1% for the week.  Internationally, Europe edged up 0.2% and Japan gained 0.5% for the week.  The yield on the 10-year Treasury fell over the week to 2.75%.

China’s GDP growth rate for the fourth quarter was 6.4%, making the growth for the year 6.6%.  It’s the slowest pace of growth since 1990.  The major drivers include manufacturing, slowing large investments by the government and businesses, weakening property sales and consumer spending.

The IMF lowered its global growth forecast for 2019 from 3.7% to 3.5%.

Existing home sales fell 6.4% in December to the lowest level in over three years.

China’s central bank added roughly $38 billion to the country’s large and mid size banks to boost lending.

The ECB president acknowledged that Europe’s outlook has weakened since December.  The bank left rates and guidance unchanged, but said it could consider additional stimulus measures if needed.

Congress and the President reached a deal to reopen the government for three weeks as talks continue.

Fed officials are close to deciding that they will hold a larger bond portfolio than they expected when they began shrinking those holdings two years ago – a move that would provide support for the economy.

Comcast, United Technologies, P&G, IBM, Starbucks and Ford all posted strong earnings results, while UBS and J&J disappointed.

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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