Financial News and Portfolio Management Discussion through October 6th

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

US stocks sank over the week on rising bond yields.  The S&P 500 dropped 1.0% and the Dow edged down slightly for the week.  Abroad, Europe fell 1.8% and Japan declined 1.4% for the week.  The 10-year Treasury reached its highest level since May of 2011 finishing the week at 3.23%.

The September jobs report was mixed with the number of new hires, 134,000, falling well short of the 180,000 expected.  However, the unemployment rate fell to 3.7% from 3.9% for the lowest level since 1969.  July and August were revised higher by 87,000 new hires. Article

US manufacturing activity slowed in September.

US auto sales fell roughly 6% in September from a year ago.

The US services sector activity hit a record in September and private payrolls rose more than expected.

 

 

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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