Financial News for the Week Ending March 15th
US stocks posted one of their worst weeks of the year as investors feared the fallout from a Crimea vote to succeed from the Ukraine. The Dow sank 2.4% for the week while the S&P 500 dropped 2%. Internationally, stocks saw an even heavier drop with Japan falling 6.2% and Europe down 3.3%. The yield on the 10 year Treasury bond ended the week at 2.65% as investors sought safe havens.
Japan revised their 4Q GDP to 0.7% from the earlier projection of 1.0% showing the country is on rockier footing.
A drop in Chinese exports surprised economist and raised more concerns over Chinese growth.
US retail sales rose 0.3% in February from January despite the havoc raised by the weather, a positive sign for the economy.
More weak growth news emerged from China as industrial output in the January and February period was 8.6% compared to 9.7% in December. Also, fixed asset investment growth, and retail sales both eased.
Jos. A. Bank was purchased by Men’s Warehouse for $1.8 billion.
Quiznos filed for chapter 11 bankruptcy aiming to reduce its debt load by two thirds.
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