Financial News and Portfolio Management Discussion through August 21st

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

Global stocks fell over the week on concerns over the Delta variant, global growth and reduced central bank support. The S&P 500 fell 0.6% and Dow declined 1.1% for the week. Abroad, the FTSE All World Ex US sank 3.4% for the week. On concerns of slowing growth oil fell to $62.32 a barrel down 8.9%. The yield on the 10-year Treasury ticked down to finish at 1.26%.

Minutes from the Fed’s July meeting showed they were set to begin reducing their support for the economy later this year by reducing the size of their bond purchases.

China released data that showed growth in industrial, consumer and investment activity slowed in July more than expected.

China’s market regulator drafted new guidelines for internet companies.

Retail sales fell 1.1% in July, below expectations.

Home builder confidence fell in August to its lowest level since last July.

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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