Financial News and Portfolio Management Discussion through December 31st
US Stocks had their worst week since the election as investors moved away from risky assets to end the year. The S&P 500 declined 1.0% and the Dow fell 0.8% for the week. Internationally, Japan fell 1.4% and Europe rose 0.4% for the week. The yield on the 10 year Treasury bond fell 0.15% over the week to end the year at 2.45%. However, it rose 0.18% from the end of 2015.
Home prices rose 5.6% over the trailing twelve months through October according to the Case Shiller Home price index.
Unemployment claims fell 10,000 to 265,000 last week, a healthy measure.
Toshiba announced that it may need to report billions in losses due to cost overruns and missed deadlines for nuclear reactor projects.
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