Financial News and Portfolio Management Discussion through October 17th

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

US Stocks rose on positive profit reports to start earnings season and increasing doubts the Fed will raise interest rates this year. The S&P 500 gained 0.9% and the Dow rose 0.8% for the week. Internationally, Japan fell 0.8% and Europe edged up 0.1% for the week. The yield on the 10 year Treasury bond fell over the week to end at 2.03%.  Article

The producer price index fell 0.5% in September and is down 1.1% from a year earlier.

Inflation declined in September for the second month in a row with the CPI dropping 0.2% and is flat for the past year. Excluding food and energy, however, prices are up 1.9% over the past year.  Article

China’s exports and imports fell in September.

US industrial production fell 0.2% in September.

US Retail sales rose just 0.1% in September from August excluding sales of autos.  Article

Dell agreed to buy EMC for $67 billion.

ABInbev raised its offer to SABMiller to $103.3 billion and Miller’s Board will recommend to shareholders to accept the deal.

GE announced it had agreed to sell its financing arm to Wells Fargo.

Twitter announced it will cut up to 8% of its workforce.

Intel, BofA, Wells Fargo, Citigroup, SunTrust and GE all topped expectations for the past quarter, while JP Morgan, Netflix, Goldman Sachs disappointed investors.

Wal-Mart said it expected profits to decline as much as 12% next year due to increase spending on stores and labor.

 

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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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