U.S. Stocks Slight Decline, Household Debt Increase, House passes Tax Overhaul Bill

Financial News and Portfolio Management Discussion through November 18th

US stocks posted a slight decline for the week with question about the tax overhaul weighing on the market. The S&P 500 fell 0.1% and the Dow dropped 0.3% for the week. Abroad, Japan and Europe slipped 1.3% for the week. The yield on the 10 year Treasury bond eased to finish at 2.35%.

Japan’s GDP grew at 1.4% in the third quarter marking its longest growth streak in 16 years.NY Stock Exchange

Total US household debt rose for the 13th straight quarter.

The House passed its tax overhaul bill, however passage in the Senate is uncertain.

GE announced plans to undergo a massive restructuring cutting its dividend by $4 billion, cutting board seats and streamline operations.

Target’s sales rose, but it issued a disappointing forecast.

Wal-Mart posted its strongest quarterly sales growth in almost a decade.

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.

Image courtesy of washingtonpost.com

 

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