Financial News and Portfolio Management Discussion through February 14th
US Stocks moved higher over the week on positive earnings reports and a truce in Ukraine. The Dow gained 1.1% and the S&P 500 rose 2.0% for the week with the S&P 500 at a new record high. The NASDAQ hit a 15 year high as well. Internationally, Europe was up 1.0% and Japan was up 1.5%. The yield on the 10 year Treasury rose back about the 2.0% threshold to finish at 2.02%.
Home prices rose 6% in the fourth quarter from a year earlier. That is up from 4.8% in the third quarter.
Retail sales fell 0.8% in January driven by dropping gas prices, but even excluding gas retail sales were flat.
Germany helped drive an increase in Eurozone GDP in the 4th quarter of 0.3%, slightly topping expectations.
Expedia and Orbitz agreed to merge in a $1.34 billion deal.
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