Financial News and Portfolio Management Discussion through September 15th

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

Global stocks gained over the week on easing trade war fears and central bank moves.  The S&P 500 was up 1.2% and the Dow rose 0.9% for the week.  Internationally, Japan soared gaining 3.5% and Europe climbed 1.1% for the week.  The 10-year Treasury yield rose over the week ending at 2.99%. Article

The US opened up the possibility to another round of trade talks with China to possibly avoid the US applying tariffs on $200 billion in Chinese exports.

The number of available jobs in the US outpaced the number of job seekers by over 650,000 in July.

The producer price index unexpectedly declined in August and the CPI rose 0.2% in August, below expectations.

The ECB lowered its projects for growth, but reaffirmed its commitment to move away from easy money policies.  They expect to wind down it bond purchase program by year end and won’t look to raise interest rates until after the summer of 2019.  Article

The Bank of England voted to hold its benchmark interest rate at 0.75%.

Turkey’s central bank sharply increased interest rates from 17.75% to 24% to combat its falling currency.

Retail sales eased in August after a significant jump in July.

Russia’s central bank increased its benchmark interest rate to 7.5% to fight inflation and volatility of the ruble.

 

 

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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