Financial News and Portfolio Management Discussion through August 12th

All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.

US stocks posted their worst week since May on weak earnings from retailers and North Korea tensions. The S&P 500 fell 1.4% and the Dow dropped 1.1% for the week. Abroad, Japan eased 1.1% and Europe sank 2.7% for the week. The yield on the 10 year Treasury fell as investors moved to safe havens ending the week at 2.19%, its lowest level since June. The VIX hit the highest level of the year during the week.  Article

Worker productivity picked up in the second quarter rising 0.9% up from 0.1% in the first quarter. However, the pace remains well below the level required to see GDP growth accelerate.

US inflation continued to be subdued in July. The CPI rose 0.1% from the prior month and is up 1.7% over the trailing year, below the Fed’s target.

Vantiv agreed to buy Worldpay for $10.4 billion in a tie up of payment processing giants.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

There is no guarantee that any investment strategy, including those described here, will be successful. Any investment or investment strategy can lose money. Past performance does not guarantee or predict future results. You should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from Raffa Wealth Management, LLC. This information was gathered from reliable sources but we cannot guarantee accuracy. Indexes do not reflect the fees associated with actual investments and such fees would reduce the performance illustrated.
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