Financial News and Portfolio Management Discussion through August 25th

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

The week US stocks reached the longest ever bull market ended with a new record high on reassuring comments from the Fed. The S&P 500 gained 0.9% and the Dow rose 0.5% for the week. Internationally, Japan jumped 1.5% and Europe climbing 0.7% for the week. The yield on the 10-year Treasury fell over the week ending at 2.83%. Article

Minutes from the Fed’s early August meeting showed they expected to raise the Fed Funds rate a quarter percent at their September meeting and there was debate over how protectionist trade policies would impact the economy.

Fed Chief Powell, in a speech at the annual central bank conference, defended the speed at which the Fed is moving saying it is considering the risk from raising the Fed Funds rate too slowly or too quickly and believe their current path is appropriate.

Existing home sales fell 0.7% in July from June. It was the fourth straight month of declines.

Target had its best quarterly results in more than a decade, continuing a strong run by large retailers. Article   

 

 

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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