Financial News for the Week Ending April 12th

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

US stocks suffered their worst week since as technology stocks sold off.  The S&P 500 dropped 2.6% and the Dow fell 2.4% over the week.  The tech heavy NASDAQ plummeted 3.1% for the week.  The trouble ensnared international markets as well with Europe falling 3.1% and Japan posting their worst week in more than 3 years falling 7.3%.  Investors moved to safe haven investments with the drop in stocks.  The yield on the 10 year Treasury bill sank to 2.62%.  Article

Greece returned to the debt markets for the first time since its debt crisis threatened Europe as it issued $4 billion in bonds

The released Fed minutes showed officials have become increasingly worried about low inflation rates.  They discussed making a more explicit stance of keeping short term interest rates near zero but elected to hold off.  The minutes gave investors confidence that rates would stay low longer into the future.  Article

More car companies are issuing recalls to avoid fines by regulators as GM’s recall issues mount.  Toyota recalled 6.4 million vehicles.

Wells Fargo posted a 14% increase in earnings as it focused on consumer and business lending, while JP Morgan saw its earnings fall 19% driven by weakness from its investment bank in the first quarter.  Both posted a drop in revenue from reduced mortgage business.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

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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