Consumer Spending Rose; Durable Goods Orders Up

Financial News for the Week Ending December 28th

US Stocks indices hit another record high over the week on positive economic news.  US stocks are on pace to have their best year since 1995. The S&P 500 rose 1.3% and the Dow gained 1.6% for the week.  Internationally, Europe reached a five and a half year high finishing up 2.0% for the week, while Japan was up 1.9%, a six year high.  The 10 Year US Treasury yield reached 3% for the first time since July 2011 on the positive sentiment about the economy.

Consumer spending rose 0.5% and durable goods orders were up 3.5% in November.

New home sales in October and November were the two strongest months since mid 2008.

Apple struck a deal to begin offering the iPhone on China Mobile’s network giving the firm access to a potential 760 million subscribers.

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

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