Financial News and Portfolio Management Discussion through February 25th
US Stocks continued to rise on expectations of business friendly proposals from the President. The Dow has posted 11 straight record high closing days and the S&P 500 posted its fifth straight week of gains. The S&P 500 rose 0.7% and the Dow rose 1.0% for the week. Abroad, Japan gained 0.2% and Europe edged down 0.1% for the week. The yield on the 10 year Treasury fell over the week to finish at 2.32%, its lowest level since November.
Fed minutes from their end of January meeting show the Fed is poised to raise the Fed Funds rate as soon as their March meeting based on an improving economy and the possibility of more spending and less taxation from the new administration. However, investors are still assigning a low probability of an interest rate increase at the meeting.
Home Depot, HP, Tesla and Wal-Mart posted solid earnings reports.
Verizon and Yahoo have agreed to a deal that is $350 million less than the original purchase price.
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