Financial News and Portfolio Management Discussion through September 20th

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 driven by the Fed reaffirming its easy money stance.  The S&P 500 rose 1.3% and the Dow gained 1.7% for the week.  Abroad, Japan was up 2.3% while Europe rose 1.2% for the week helped by the Scottish vote to remain part of the UK.  The yield on the 10 Year Treasury bill ended the week at 2.59% down slightly from last week as prices rose from the Fed’s statement.  Article

After the Fed’s most recent policy meeting there were no new revelations about when they expect to start raising rates and no changes in language from their statement.  They will continue to curtail the bond purchasing which is set to end next month.  Article

Calpers announced it would exit its $4 billion hedge fund portfolio as it looks to simplify its investments; a move that is sure to reverberate around the industry given its status as the largest US public pension plan.

Oracle founder and CEO Larry Ellison announced he is stepping down from the company he has run since 1977.

Home Depot announced that 56 million cards have been exposed to the hackers who attacked their payment systems over five months.

Alibaba, the Chinese ecommerce company, soared in its trading debut finishing the day at $93.9 a share after its IPO price of $68.  The price values the company at $231 billion.  Article

 

About

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.
Bookmark this page