Financial News and Portfolio Management Discussion through December 9th

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

US stocks notched another record high on a positive jobs report and tax overhaul optimism. The S&P 500 and Dow both gained 0.4% for the week. Abroad, Europe climbed 1.4% and Japan ticked down 0.1% for the week. The yield on the 10 year Treasury finished the week at 2.38% up slightly from the previous week. Bitcoin mania continued over the week rising over 40% in 40 hours at one point.  Article

The US jobs report beat expectations with 228,000 new hires compared to the 195,000 expected. The unemployment held steady at its 18 year low of 4.1%. Wage growth, however, disappointed rising 2.5% vs. the expected 2.6%.  Article

Greece reached a deal with its creditors to payout another $5 billion euros of its bailout.

An agreement was reached between the UK and the EU after six months of talks allowing for negotiations to move forward on a trade deal and a post Brexit transitional period.

A revision to Japan’s third quarter GDP growth showed that GDP was stronger than expected and the country has now posted 7 straight quarters of growth.

GE will cut 12,000 jobs or 18% of its workforce form its power business.



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