Financial News and Portfolio Management Discussion through September 1st

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

US stocks rose over the week reaching new record highs on positive trade developments.  The S&P 500 gained 0.9% and the Dow rose 0.7% for the week.  Internationally, Japan jumped 1.2%, while Europe eased 0.3% for the week.  The yield on the 10-year Treasury edged up slightly over the week ending at 2.85%. Article

The US and Mexico reached a trade deal in reworking NAFTA, however Canada was not included in the deal.

The S&P Case Shiller Home Price Index rose 6.2% in June over the trailing year down from the 6.4% annual growth rate in May.

US 2Q GDP was revised up to 4.2% from 4.1%.

Household spending rose 0.4% in July, while household income rose 0.3%.

The Fed’s preferred gauge of inflation, the personal consumption expenditures price index, rose 0.1% in July from June.  From the prior year it is up 2.3% the largest increase since 2012 and above the Fed’s 2% target.

The US and Canada missed a Trump administration imposed deadline on reaching an agreement to a reworking of NAFTA, but agreed to continue talks. Article

US corporations posted a 16.1% gain in profits in the second quarter from the prior year, the largest gain in six years.

 

 

 

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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