Financial News and Portfolio Management Discussion through October 17th

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

US stocks edged up slightly for the week as concerns about increasing COVID-19 cases were weighed against hopes of a new fiscal stimulus deal.  Third quarter earnings season also got under way with mixed results. The S&P 500 rose 0.2% and the Dow ticked up 0.1% for the week.  Abroad, the FTSE All World Ex US was down 1.0% for the week on heightened lockdown measures in Europe.  The yield on the 10-year Treasury fell over the week to settle at 0.74%.

New weekly unemployment claims rose to 898,000, the highest level since late August.

Europe tightened lockdown measures to fight rising infection numbers.

US retail sales rose 1.9% in September over August, significantly outpacing expectations.  It was the fifth straight month of growth.

US industrial production fell 0.6% in September and output remains 7.1% below where it stood in February.

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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