Financial News and Portfolio Management Discussion through January 28th
US Stocks reached new record highs over the week with the Dow topping the 20,000 mark on moves by the new administration and strong corporate earnings. The S&P 500 rose 1.0% and the Dow gained 1.3% for the week. Internationally, Europe increased 1.0% and Japan jumped 1.7% for the week. The yield on the 10 year Treasury was flat over the week ending at 2.48%.
US new home sales sank in December due to higher costs, but still rose over 2016.
The US grew at a 1.9% rate in the fourth quarter, a slowdown from the 3.5% third quarter pace.
The Aetna Humana merger was blocked by a judge on antitrust grounds potentially ending the $34 billion deal.
Boeing posted 4th quarter earnings that topped expectations and raised future estimates.
Microsoft posted solid results for its second quarter.
Google’s fourth quarter revenue grew at 3 times the pace of profit as it looked for new sources of growth. Revenue topped expectations while profit missed.
Johnson and Johnson agreed to purchase a Swiss biotech’s drug discovery operations for $30 billion.
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