Financial News and Portfolio Management Discussion through March 4th

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

US stocks posted their sixth straight week of gains posting record highs yet again on investor optimism. The S&P 500 rose 0.7% and the Dow gained 0.9%, for the week.  Internationally, Japan was up 1.0% and Europe surged 1.4%, for the week.  The yield on the 10 year Treasury yield rose to 2.49% up 0.17% over the week as investors expected an interest rate increase from the Fed in March.  Article

Recent comments by Fed Chairwomen Janet Yellen and other Fed Governors have increased the likelihood of a March interest rate increase.  Article

US auto sales were flat in February with discounts weighing on automakers.

The DOL “fiduciary” rule was delayed 60 days to allow further consideration.

The Fed’s preferred measure of inflation rose to 1.9% in January, close to its target of 2.0%

Eurozone business grew more upbeat in February with confidence reaching the highest level since before the financial crisis.

Caterpillar’s offices were raided by the IRS and other government agencies over suspected misleading information released about its financial documents and exports.

Snap’s IPO soared, rising 44% on its first day to value the company at $34 billion.  Article

Target posted declines in profit and sales and said 2017 would be worse than Wall Street expected.

 

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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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