Financial News and Portfolio Management Discussion through October 12th

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

Stocks jumped to end the week on positive trade developments.  The S&P 500 rose 0.7% and the Dow gained 0.9% for the week.  Abroad, the FTSE All-World Ex-US climbed 2.0% for the week. The 10-year Treasury yield finished the week at 1.75%, well up from 1.52% at the end of the previous week, as investors felt more optimistic about the economy.

Trump announced the US and China had reached a “Phase One deal” on trade.  The US will not implement tariffs set to go into effect next week and China will increase its purchases of US agricultural goods.

Eurozone investors’ confidence fell to a six-year low.

The US moved to add 28 Chinese entities to an export backlist due to their treatment of minority groups.  The move was seen as cooling the chances of any potential trade progress.

In the Fed’s minutes from their September meeting officials became increasingly concerned that slowing global growth could more significantly slow US hiring and economic activity.  They cited muted inflation, trade policy uncertainty and weak global growth for support on cutting their benchmark interest rate at the meeting.

The US CPI was flat in September.

US consumer sentiment rose in early October.

 

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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