Financial News and Portfolio Management Discussion through August 8th

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

US stocks sank over the week on a fall in media company stocks and concerns over the fed’s next move. The S&P 500 fell 1.3% while the Dow dropped 1.8% for the week.  Internationally, Japan saw stocks rise 0.7% and Europe ticked up 0.2% for the week.  The yield on the 10 year Treasury fell over the week ending at 2.17%.  Oil has fallen to its lowest level since March closing at $43.87 a barrel.  Article

Hiring continued its steady trend as employers added 215,000 jobs in July and 14,000 more jobs were added in May and June than previously estimated.  The unemployment rate fell to 5.3% as well.  Article

Atlanta’s Fed chief stated that unless the economy takes a major downturn he expects a rate increase at the September meeting

Consumer spending rose 0.2% in June over May.  The weak growth may be a sign wage growth is weighing on purchases.

US auto sales rose 5.3% in July as consumers continued to flock to bigger vehicles.

Puerto Rico missed a large portion of a $58 billion bond repayment marking the first default by the commonwealth.

Sears and Berkshire Hathaway issued disappointing profit reports, while Sprint and Toyota topped expectations.

 

 

About

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.
Bookmark this page