Financial News for the Week Ending March 16th
The Dow had its first down day in ten sessions on Friday, but the index rose 0.8% for the week. The S&P 500 also gained 0.6% and is just 0.28% short of its all-time high. Europe rose 0.6% for the week and Japan gained 2.3%. The 10-year Treasury note fell back below 2.0% to finish the week at 1.998%.
Retail sales rose 1.1% in February vastly outpacing expectations of slowing spending due to the end of the payroll tax holiday. The reading was a very positive sign for the economy.
The CPI jumped 0.7% in February, the largest move up since June 2009, however when volatile food and energy prices are removed the measure rose 0.2%; a number unlikely to alarm the Fed.
Hedge Fund SAC Capital Advisors will pay $616 million to settle two inside trading cases with the SEC.
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.