Financial News and Portfolio Management Discussion through August 14th

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

US stocks edged higher over the week on strong corporate earnings. The S&P 500 rose 0.8% and Dow rose 0.9% for the week. Abroad, the FTSE All World Ex US rose 0.8% for the week. The yield on the 10-year Treasury was flat for the week finishing at 1.30%.

The senate passed the infrastructure package and it now heads to the House where its passing remains uncertain.

Analysts estimate earnings grew by 90% from a year earlier, well surpassing projections.

CPI rose 5.4% from a year ago in July in line with estimates. However, it only rose 0.5% in July over June compared to June’s 0.9% monthly increase. Core CPI rose 4.3%, lower than in June, and 0.3% for the month compared to the 0.8% monthly increase in June.

Jobless claims edged down to 375,000, in line with estimates.

In the second quarter 94% of metro areas saw at least a 10% increase in home prices and home prices rose 22.9%.

Small business confidence fell to its lowest level since the early spring over concerns of the impact the Delta variant might have on business.

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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