Financial News for the Week Ending February 23rd

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

After hitting new 5 year highs early in the week, then plummeting midweek, US markets bounced back on Friday to regain some the losses from the precipitous drop.  The S&P 500 was down 0.3% for the week, while the Dow eked out a 0.1% gain.  In Fed minutes released members raised concerns over its current bond buying policy and suggested that stopping prior to its unemployment goal might be the best path, sparking a selloff mid week.  Europe was up 0.4% on the week and Japan gained 1.9% to continue its march upwards.  The 10 year Treasury sank to 1.965%.   Article

Gas prices have reached a 4 month high after climbing for 32 straight days.

Home sales rose 0.4% in January and the number of homes available for sale fell to their lowest point in 13 years leaving more buyers chasing less homes. 

Office Depot and Office Max agreed to a merger joining the number 2 and 3 office sales retailers.   Article

Wal-Mart’s profit rose, but said it excepted sales to be flat as consumers are hit by the restored payroll tax. 

HP’s profits sank 16% on weak PC sales however the numbers were better than estimates.

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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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