Financial News and Portfolio Management Discussion through March 17th
Stocks fell over the week as protectionist trade policies weighed. The S&P 500 dropped 1.2% and the Dow fell 1.5% for the week. Internationally, Japan gained 1.0% and Europe ticked down 0.1% for the week. The yield on the 10 year Treasury bond eased to end the week at 2.85%.
Inflation eased in February rising 0.2% with core inflation posting the same increase. Over the trailing year the CPI rose 2.2% with core prices up 1.8%. The slower pace reduced concerns the Fed would move faster to raise interest rates.
US retail sales declined 0.1% in February despite strong employment and improving wage growth surprising economists.
The Trump administration blocked Broadcom’s $117 billion hostile takeover bid of Qualcomm on grounds that it’s a national security concern.
Toys “R” Us announced it would sell or close all of its US stores.
Theranos CEO Elizabeth Holmes agreed to settle with the SEC after being charged with fraud alleging that the company deceived investors about the capabilities of the company’s technology.
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.