Financial News and Portfolio Management Discussion through September 28th

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

US stocks declined over the week on dwindling expectations on a near term trade agreement and disappointing economic news.  The S&P 500 was down 1.0% and the Dow fell 0.4% for the week.  Abroad, the FTSE All World Ex-US declined 0.9% for the week. The 10-year Treasury yield finished the week at 1.68%, down from 1.75% at the end of the previous week.  Oil sank 14% to finish at $55.91 on growth worries and as supply came back online.

House Democrats announced they were launching an impeachment inquiry of President Trump.

Germany’s manufacturing and services sector weakened more than expected in September.

Business activity in the US private sector increased in September.

US consumer confidence fell more than expected in September.

US consumer spending slowed more than expected in August.

US Non-defense capital spending, a measure of business investment, fell posting its weakest reading since April.

 

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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