Financial News and Portfolio Management Discussion through November 3rd

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

Global stocks rebounded over the week on strong earnings and positive trade news with China. The S&P 500 and Dow gained 2.4% for the week.  Internationally, Japan surged 5.0% and Europe jumped 3.3% for the week.  The yield on the 10-Year Treasury rose to 3.21% to end the week on wage gains.  Its highest level since early October.

The October Jobs reports well surpassed expectations with 250,000 new hires.  The unemployment rate remained at 3.7%, but the labor force participation rate increased.  Wages also rose by 3.1% from a year earlier, their largest gain in nearly a decade.

The Fed’s preferred inflation measure, the personal consumption expenditures price index rose 0.1% in September from August.  As a result, annual inflation still remains tame and below the Fed’s 2% target.

Eurozone growth eased to 0.2% in the third quarter, its lowest level in over four years, with Italy weighing down the region.

A reading of Chinese manufacturing fell to a 2 year low in October.

Annual home price gains rose by less than 6% for the first in a year in August.

Consumer confidence hit an 18 year high in October.

With 350 companies in the S&P 500 reporting to date, earnings are up 24% from a year earlier topping estimates.

Apple posted record earnings and sales, but offered weak guidance for the holiday quarter.

IBM announced it is buying software and services company Red Hat for $33 billion.

 

 

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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