Financial News and Portfolio Management Discussion through October 29th

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

Stocks sank over the week on weaker earnings reports. The S&P 500 fell 0.7%, but the Dow ticked up 0.1% for the week.  Internationally, markets were mixed with Japan surging 1.5%, while Europe sunk 1.0% for the week.  The yield on the 10 year Treasury bond surged to 1.85%, its highest yield since the end of May, as inflation expectations around the world have picked up.  Article

US GDP Growth rose at a 2.9% rate in the third quarter, the strongest reading in 2 years.  Article

Consumer inflation in the US and Europe is at its fastest pace since 2014 and Chinese factory prices rose for the first time in 4 and half years.

TD Ameritrade agreed to buy Scott Trade for $4 billion in a tie up of two discount brokers.

Qualcomm agreed to buy automotive chip maker NXP for $39 billion.

October set a record for most merger and acquisition activity with $248.9 billion worth of deals.

GM, Samsung, Ford, Amazon and AB InBev all disappointed investors with their results while Apple, Tesla, Deutsche Bank, Alphabet and Volkswagen topped investor views.



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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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