Financial News for the Week Ending April 13th

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

US stock markets posted another week of strong performance and its best since the first week of the year.   The S&P 500 gained 2.3% and the Dow rose 2.1% reaching fresh records during the week.  Internationally, Europe rose 1.8% and Japan continued to soar on its easy money policies up 5.1%.  The 10 year treasury yield finished the week slightly higher at 1.721% as weak economic news kept demand high.  Article

Gold has fallen precipitously in recent weeks dropping 4.7% for the week to finish at $1,501 an ounce.  It’s at its lowest level since July 2011 as investors have become less concerned with inflation and willing to move into equities.

Retail sales fell 0.4% in March as consumers appear to be spending more cautiously. Consumer sentiment dropped to its lowest point in 9 months as well.  Article

Alcoa kicked off earnings season with a 59% rise in profits, which beat expectations.

JC Penney ended the disastrous run of CEO Ron Johnson by firing him.  The much heralded former Apple executive tried to overhaul the retailer, but his changes resulted in plunging sales. 

Worldwide shipments of laptops and desktops dropped 14% in the first quarter from the year earlier.  The largest drop since the data has been tracked.

Both Wells Fargo and JP Morgan reported declining revenue in the first quarter as the home refinancing boom has subsided.  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

DiggLinkedInDeliciousRead It LaterStumbleUponEmailGoogle BookmarksGoogle BuzzFacebookShare
This entry was posted in Uncategorized. Bookmark the permalink. Both comments and trackbacks are currently closed.
  • Contact Us
    Raffa Wealth Management
    1899 L Street, NW
    Suite 900
    Washington, DC 20036
    Tel: 202-955-6734