Financial News and Portfolio Management Discussion through September 26th

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

US stocks fell for a fourth straight week led by concern over the economy and a global increase in virus infections. The S&P 500 fell 0.6% and the Dow sank 1.7% for the week.  Abroad, the FTSE All World Ex US dropped 4.1% for the week.  The yield on the 10-year Treasury edged eased over the week to settle at 0.66%, its lowest level since mid-August.

Sales of previously owned homes rose 2.4% in August. Home purchases reached a 14 year high.

US purchasing manager surveys showed manufacturing and service sector activity continued to expand in September though at a slower pace than in August.

Purchasing managers in Germany, France and Japan showed the flare ups of coronavirus cases were cooling service sector activity in Europe and Asia.

Initial jobless claims held steady over the past week at just under 900,000.

US durable goods orders rose 0.4% in August, lower than projected.

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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