Financial News and Portfolio Management Discussion through November 14th

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

US stocks sank over the week for the first drop in six weeks on weak consumer spending in the US and weak international economic numbers. The S&P 500 fell 3.6% and the Dow dropped 3.7% for the week. Internationally, Japan gained 1.7%, but Europe was off 2.7% for the week. The yield on the 10 year Treasury eased over the week to finish at 2.28%. Oil fell to near $40 a barrel on lackluster global growth and continued high supply.  Article

China’s exports dropped 6.9% in October for its fourth straight monthly decline, reflecting weak global growth.  Article

US Retail sales edged up 0.1% in October after two flat months. Cheaper gas has not led to increased sales.  Article

Molson reached a $12 billion agreement to buy the remaining portion of the joint venture it has with MillerCoors. The move opens a path for SABMiller to be bought by AB InBev.

AB InBev formally agreed to buy SABMiller for $108 billion; the deal now beings the process of regulatory review.

Macy’s announced a 5.2% drop in sales and lowered its yearly forecast, far worse than expectations.

Cisco topped expectations for the past quarter, but issued a poor outlook.

 

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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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