Financial News and Portfolio Management Discussion through September 30th

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

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

US stocks had another positive week ending the quarter at record highs on optimism about tax reform. The S&P rose 0.7% and the Dow gained 0.2% for the week. Internationally, Japan edged up 0.2% and Europe increased 1.3% for the week. The yield on the 10 year Treasury ended the month at 2.33% its highest level since late July.  Article

Angela Merkel won a 4th term as chancellor of Germany however a surge from the right reduced her level of support.  Article

Fed chairwomen Yellen defended the Feds expectations to gradually raise rates despite recent weak inflation.

US GDP rose 3.1% in the second quarter in the final revision, up from the previous estimate of 3.0%. It was the best quarter for growth in two years.  Article

Businesses and households were more upbeat in September about their prospects then at any time in the past decade.

The German unemployment rate fell to a record low.

Equifax announced the CEO was resigning in the firm’s latest response to the massive hack of the credit-reporting firm.

Government officials decided to remove federal oversight over insurer AIG after the firm had been monitored since the financial crisis.

 

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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.
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