Financial News and Portfolio Management Discussion through January 28th

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

US Stocks reached new record highs over the week with the Dow topping the 20,000 mark on moves by the new administration and strong corporate earnings.  The S&P 500 rose 1.0% and the Dow gained 1.3% for the week.  Internationally, Europe increased 1.0% and Japan jumped 1.7% for the week.  The yield on the 10 year Treasury was flat over the week ending at 2.48%.  Article

US new home sales sank in December due to higher costs, but still rose over 2016.

The US grew at a 1.9% rate in the fourth quarter, a slowdown from the 3.5% third quarter pace.  Article

The Aetna Humana merger was blocked by a judge on antitrust grounds potentially ending the $34 billion deal.

Boeing posted 4th quarter earnings that topped expectations and raised future estimates. 

Microsoft posted solid results for its second quarter. 

Google’s fourth quarter revenue grew at 3 times the pace of profit as it looked for new sources of growth.  Revenue topped expectations while profit missed. 

Johnson and Johnson agreed to purchase a Swiss biotech’s drug discovery operations for $30 billion.

 

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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

 

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