Financial News and Portfolio Management Discussion through August 13th

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

US Stocks ticked up slightly as recent economic news has reinforced investors’ views that the Fed will be slow to raise rates. The S&P 500, Dow and Nasdaq indices all notched record highs on the same day for the first time since 1999.  For the week the S&P 500 was up 0.1% and the Dow gained 0.2%.  Abroad Europe gained 1.4% and Japan jumped 4.1% for the week.  The yield on the 10 year Treasury edged down to 1.52%.  Article

China’s GDP grew at a better than expected 6.7% rate in the second quarter.  Article

Retail sales were essentially flat in July. Article

US productivity fell for a third straight quarter dropping at a 0.5% annual rate in the second quarter. It is the longest streak since 1979 and puts a cloud over future US growth prospects.

Economists predict the Fed will raise interests one time this year at their December meeting.

Wal-Mart agreed to buy jet.com for $3.3 billion as the retailer seeks to improve its online presence and further compete with Amazon.

Alibaba reported a 59% jump in revenue in the second quarter, well outpacing expectations.

 

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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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