Financial News and Portfolio Management Discussion through October 7th

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

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

US stocks posted their fourth straight week of gains on generally solid economic news. The S&P 500 gained 1.2% and the Dow climbed 1.6% for the week. Internationally, Japan rose 1.4% and Europe edged up 0.3% for the week. The yield on the 10 year Treasury ticked up for the week ending at 2.37%.  Article

The September jobs report surprised to the downside with a loss of 33,000 jobs, the first decline in seven years. In addition, August and July were revised and resulted in a decline of 38,000 jobs. On the positive side the unemployment rate fell to 4.2% its lowest level since early 2001 while the labor force participation rate expanded 0.2% to 63.1%. Wage growth also jumped to 2.9%a breakout from the recent increases seen in recent months. However, all of the data was likely impacted significantly by Hurricanes Irma and Maria.  Article

Manufacturing activity reached a 13 year high in September, well outpacing economists’ expectations.

Auto sales hit their fastest pace of 2017 in September, climbing 6.1%, driven by replacing storm damaged vehicles.

Berkshire Hathaway purchased approximately 40% of Pilot and Flying J truck stops in a bet on us economic growth.

Yahoo’s hacking scandal was worse than originally let on with all 3 billion accounts with the firm impacted.

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

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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