Financial News and Portfolio Management Discussion through March 21st

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

US Stocks rose over the week on the dovish comments from the Fed meeting.  The S&P 500 gained 2.7% and the Dow rose 2.1% for the week. The Russell 2000 hit a record high Friday and is up 5.4% for the year. Internationally, Europe gained 1.9% and Japan was up 1.6% for the week.  The 10 year Treasury yield eased on the Fed news falling to 1.93%.   Article

After the Fed’s most recent meeting the FOMC adjusted language to remove the statement that they would be “patient” before raising rates.  The change opens the door to a possible rate increase at the June meeting, however the Fed also lowered its economic projections.  The change moved market expectations for an interest rate increase to later in the year.   Article

US industrial production rose 0.1% in February but manufacturing eased.  Both readings were below expectations.

FedEx’s profit jumped 53% on restructuring and lower fuel costs, but the firm lowered its full year outlook.

 

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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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