Financial News and Portfolio Management Discussion through February 11th
US stocks hit new record highs on solid corporate earnings and expectations on tax reductions. The S&P 500 rose 0.8% and the Dow rose 1.0% for the week. Internationally, Japan soared, up 2.5% and Europe rose 0.9% for the week. The yield on the 10 year treasury eased to end the week at 2.41%.
With 360 firms in the S&P 500 reporting earnings, companies are on pace to report a 5% growth in profits compared to the 3.2% expected at the end of 2016.
European corporations are on pace to post their first profit since 2012 and their strongest growth in five years.
A judge blocked the merger of insurers Anthem and Cigna likely derailing the 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