Financial News for the Week Ending February 9th

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

The S&P 500 ended the week up for the 6th straight week and hit a five year high on news the trade deficit narrowed in December which likely points to a higher 4th quarter GDP number than previously reported.  For the week the S&P 500 rose 0.3% and the Dow fell slightly, down 0.1%.  Internationally, Japan had its first down week of the year dropping 0.3% and Europe fell 0.3% as well.  The 10 year Treasury yield fell over the week ending at 1.953%.   Atricle

Gas prices are rising again as the national average for a gallon of gas rose to $3.54 it highest level since October

BP and Disney’s earnings fell and UBS and Sony posted losses for the most recent quarter.

Toyota, Time Warner, News Corp and Credit Suisse posted 4th quarter profits.

Dell officially announced that it was being taken private by a group led by founder Michael Dell for $24.4 billion.  Article

The Justice Department brought civil charges against credit rating firm S&P over mortgage bond ratings the firm issued prior to the financial crisis that the Justice Dept. saw as intending to defraud investors.  Article

About

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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