Financial News for the Week Ending February 9th
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%.
Gas prices are rising again as the national average for a gallon of gas rose to $3.54, its 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.
Reposted from the Raffa Wealth Management Blog.
All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.