Financial News and Portfolio Management Discussion through November 20th

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

US stocks were relatively flat over the week on rising Covid-19 concerns. The S&P 500 edged up 0.3% and the Dow declined 1.4% for the week. Abroad, the FTSE All World Ex US fell 0.9% for the week. The yield on the 10-year Treasury eased over the week to finish at 1.54% down from 1.58%. Oil prices fell 5.8% over the week to $76.10 a barrel over demand worries as areas in Europe moved back into lockdown.

Covid-19 cases are on the rise in the US and Europe. Austria announced a new nation wide lockdown and parts of Germany are also entering a new lockdown.

Japan’s economy contracted in the third quarter 0.8% on weaker exports and consumer spending.

The President signed into law the $1 trillion infrastructure package.

US Retail sales rose 1.7% in October over September.

Weekly unemployment claims declined to 268,000.

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.
Bookmark this page