Financial News and Portfolio Management Discussion through August 31st

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

US stocks broke a four-week losing streak to end August on a positive note driven by hopes on US/China trade talks.  The S&P 500 rose 2.8% and the Dow jumped 3.0% for the week.  Abroad, Japan was flat and Europe gained 2.2% for the week.  The 10-year Treasury yield edged down further ending the week at 1.50%.  Gold rose to $1,519 a troy ounce up 6.5% for the month and moved above $1,500 for the first time in six years.

UK Prime Minister Johnson moved to extend Parliament’s break in a bid to reduce opposition from lawmakers stopping an abrupt exit from the EU.

Revised second-quarter GDP showed the US grew at a 2%, down from the previously estimated 2.1%.

Personal consumption expenditures, a measure of household spending, rose 0.6% in July over June.

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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