Financial News and Portfolio Management Discussion through November 19th

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

US stocks continued to gain in the week following the election on positive expectations for the new administration, particularly the financial sector. The S&P 500 gained 0.8%, while the Dow ticked up 0.1% for the week.  Internationally, Europe rose 0.6% and Japan jumped 3.5% for the week.  The yield on the 10 year Treasury bond closed at 2.34%, a 12 month high, on expectations of a Fed rate hike and higher inflation.  The past two weeks have seen the biggest gain in 15 years.  Article

China appears on track to grow at 6.5% this year.

Retail sales gained 0.8% in October and 1% in September marking the best two month stretch in over two years.  Article

In testimony before congress Fed Chair Janet Yellen said the Fed could move “relatively soon” to raise the Federal funds rate. The comments continue to support the market’s expectation of a Fed rate increase in December.

New claims for unemployment fell to their lowest level since 1973 last week.

New housing permits rose in October and housing start reached their strongest pace since 2007.

Volkswagen plans to cut 30,000 jobs over the coming years at VW.

With 95% of companies in the S&P 500 reporting, earnings rose 5% in the third quarter to break the 5 quarter streak of declining earnings.

 

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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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