All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US Stocks continued their post election rally over the week after faltering at the end of 2016. The S&P 500 gained 1.7% and the Dow rose 1.0% for the week. Internationally, Japan jumped 1.8% and Europe increased 1.1% for the week. The yield on the 10 year Treasury ended the week at 2.42% down slightly from where it ended 2016. Article
US companies added 156,000 employees in December a slowdown from November and the unemployment rate ticked up to 4.7%. Wages increased 2.9%, over the year the best pace since 2009. Article
The Eurozone manufacturing sector picked up in December. It posted its best reading since April 2011.
China’s manufacturing purchasing mangers index remained in expansion territory though it ticked down from November.
December manufacturing in the US hit its highest level in 2 years. Article
Consumer prices in the eurozone jumped 1.1% in December from a year earlier, the fastest pace in over three years.
US auto sales hit another annual record in 2016 driven by a surge in sales that was fueled by large discounts.
The Fed’s December meeting minutes showed that they were unsure on how the new administration’s proposals will impact the economy.
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