Financial News and Portfolio Management Discussion through January 14th
US Stocks eased over the week as the post election rally has cooled. The S&P 500 edged down 0.1% and the Dow fell 0.4% for the week. Internationally, Japan dropped 0.9% and Europe ticked up 0.1% for the week. The yield on the 10 year Treasury bond fell to 2.38%.
The German economy picked up steam at the end of 2016 with GDP rising 1.9% for the full year. It’s the fastest pace since 2011.
Eurozone industrial output rose 1.5% in November from October well outpacing the 0.5% expected.
Sales at US retailers rose 0.6% in December from November.
GM expects to post record earnings in 2016 and believes 2017 will be even better.
VW is expected to pay $4.3 billion and admit to criminal wrong doing to resolve its emissions cheating scandal with the Justice Dept.
Fourth quarter earnings from JP Morgan Chase, Bank of America and Wells Fargo all were strong.
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