Financial News and Portfolio Management Discussion through November 21st
US Stocks bounced back for their best week in nearly a year as investors felt they had a clearer picture of the Fed’s future moves. The S&P 500 rose 3.3% and the Dow gained 3.4% for the week. Internationally, Japan climbed 1.4%, while Europe was up 3.3% for the week. The yield on the 10 year Treasury yield settled at 2.26% down slightly from last week.
Minutes from the Fed’s October meeting were released and showed that they expected to raise rates at their December meeting as long as job growth and inflation trends don’t weaken.
Japan’s GDP declined for the second quarter in a row falling 0.8%; worse than was expected.
US inflation ticked up 0.2% in October driven by the service sector, but prices are up just 0.2% from a year ago.
Marriott agreed to buy Starwood hotels for $12.2 billion to create the world’s largest hotel company.
Wal-Mart’s US sales rose 1.5% in the third quarter for its fifth quarterly gain, however profits fell 11%. The results topped expectations.
Target’s third quarter sales fell, disappointing investors.
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