Financial News for the Week Ending February 8th

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

US markets gained over the week bouncing back from a weak start to end the week on two solid days despite the disappointing jobs report.  Investors shrugged it off as there were some positive signs in the report and they believed it could prompt the Fed to take additional action if there was protracted economic weakness.  The S&P 500 rose 0.8% and the Dow gained 0.6% for the week.  Internationally, Europe rose 0.8%, but Japan sank 3.0%.  Bonds rose for the week on global growth worries with the 10 year Treasury yield sinking to 2.68%.   Article

The January jobs report fell far short of expectations with 113,000 jobs added below the 170,000 expected.  It’s the weakest two month stretch of job creation in three years. The unemployment rate did drop to 6.6%, its lowest point since 2008, and the labor force participation rate ticked up to provide some positive news.  Article

Factory output in the US grew at a slower pace in January than expected adding to market jitters.  Article

January car sales fell for the first time since September with bad weather being a primary factor.  All major automakers saw their January sales fall compared to a year ago.

After its most recent meeting the ECB announced no new rate cuts but stated it stood ready to act. 

S&P lowered its credit rating on Puerto Rico’s debt to junk status on its increasing obligations and reduced access to the credit markets. 

Microsoft named Satya Nadella as the new CEO, a Microsoft insider who headed their cloud based computing group.  Bill Gates will give up his role as chairman to be Nadella’s technical advisor. Article

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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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