Financial News and Portfolio Management Discussion through July 30th

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

Stocks were mixed over the last week of July on corporate earnings and weaker economic reports. The S&P 500 was flat, while the Dow fell 0.7% for the week.  Abroad Japan was off 0.4% and Europe rose 0.5% for the week.   The yield on the 10 year Treasury finished the month at 1.46% after starting July at 1.49%.  Oil has sunk from the $50 a barrel level seen in June to finish July at $41.60.   Article

The Fed stated at the end of their July meeting that “near term risks to the economic outlook have diminished” potentially opening the door to an interest rate increase this year, possibly as soon as September.  Article

The Bank of Japan announced it would buy $58 billion worth of stock ETS, more than it previously had, left its target for purchasing government assets the same and didn’t cut its main interest rate further into negative territory. The modest stimulus measures were a slight disappointment to investors.

The eurozone’s GDP fell to 1.2% in the second quarter down from 2.2% in the first quarter as exports remain weak and unemployment remains elevated at 10.1%.

US GDP rose just 1.2% in the second quarter as falling business investment weighs. The growth pace was well below expectations and 2016 has had the weakest growth over the first half since 2011.  Article

With more than half of the firms in the S&P 500 reporting earnings, they are on pace to decline 3.8% from a year earlier. This would top estimates of a 5.3% decline.

 

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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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