Financial News for the Week Ending March 30th
The S&P 500 hit a new all-time high to close out the month of March. The Dow hit a new all-time high as well as investors are growing increasingly confident in the U.S. economic recovery. For the first quarter, the Dow has gained 11.3% and the S&P rose 10%. It’s the best start to the year since 1998 for blue chips.Positive economic news continues to come in. Home prices increased 8.1% in January from a year earlier, the largest gain in 6 and a half years. The final revision of GDP was moved up to 0.4% for the 4th quarter of 2012 from 0.1%, and the economy’s growth prospects for the first quarter improved as consumer spending rose 0.7% in February.
Cyprus reached an agreement with its creditors and will receive a bailout which will keep the country in the euro zone. The deal provides a $13 billion loan for the country, closes the country’s second largest bank and imposes losses on deposits greater than 100,000 euros.
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.