Financial News and Portfolio Management Discussion through October 13th

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

Stocks had their worst week since March driven by a variety of issues including an increase in interest rates and trade war concerns.  The S&P 500 sank 4.1% and the Dow plunged 4.2% for the week.  Internationally, Japan and Europe fell 4.6% for the week.  The yield on the 10-year Treasury eased over the week falling to 3.14% as investors sought safe haven from the stock market turmoil.

The CPI rose a less than expected 0.1% in September to bring the gain over the past year to 2.3%.

The average rate on a 30 year fixed mortgage rose to 4.9%, the highest level in 7 years.

Consumer sentiment fell in early October, but still is at a high level.

Big banks JP Morgan, Citigroup, and Wells Fargo posted double digit earnings growth in the third quarter driven by higher consumer lending and spending. Article

 

 

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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