Financial News and Portfolio Management Discussion through December 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 as concerns about the global economy and the US/China trade relationship weighed on stocks.  The Dow sank 4.5% and the S&P 500 dropped 4.6% for the week.  Abroad, Japan declined 3.0% and Europe fell 3.4% for the week.  The yield on the 10-year Treasury declined as investors moved to safe havens to finish the week at 2.85%.  It’s lowest level since the end of August.

The November jobs reports came in slightly below expectations with 155,000 new hires.  The unemployment rate remained at 3.7%.  Wage growth over the trailing year stayed at 3.1%.

After a meeting at the G20 summit the US announced it will postpone its increase in tariffs, that were set to go into effect at the end of the year, by 90 days.  However, conflicting accounts emerged from of the meeting which sent markets tumbling.

The US is extraditing the CFO of Huawei Technologies, a major Chinese tech company, over alleged violations of Iran sanctions throwing the future of US/China trade talks into question.

OPEC and Russia agreed to cut production by 1.2 million barrels a day.  The announcement sent oil 2.2% higher to end the week at $52.61 a barrel.

The November jobs reports came in slightly below expectations with 155,000 new hires.  The unemployment rate remained at 3.7%.  Wage growth over the trailing year stayed at 3.1%.

 

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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