Financial News and Portfolio Management Discussion through August 17th

Stocks were highly volatile but recovered some ground to close out the week.  Fears of a potential recession drove stocks down after the 2-year Treasury briefly offered a higher yield than the 10-year Treasury.  The S&P 500 dropped 1.0% and the Dow fell 1.5% for the week.  Abroad, Japan eased 1.3% and Europe declined by 0.5% for the week.  The 10-year Treasury yield continued to decline ending the week at 1.54%.

Trump announced he would delay and remove some tariffs set to hit Chinese goods on September 1st.  The $156 billion in goods would now have a 10% tariff applied beginning December 15th.

The CPI rose 0.3% in July from June and core prices rose 0.3% as well.  Core prices posted the largest two month gain in more than a decade.

Industrial production in China grew less than expected in July.

Germany’s economy contracted by 0.1% in the second quarter due to a decline in exports.

An ECB official said that the ECB will announce stimulus measures next month that will surpass investor expectations.

July retail sales posted strong growth, up 0.7%, well-outpacing expectations and showing consumers are still supporting the US economy.

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 herein 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. Source: FMG Suite, LLC.
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