All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks posted their best week since December on a rebound in commodity prices driven by signs of stabilization in China and increased expectations for low interest rates. For the week, the Dow rose 3.7% and the S&P 500 rose 3.3%. Aboard, Europe rose 4.3% and Japan gained 4.0% for the week. Oil gained 9% over the week to finish at $49.63 a barrel. The yield on the 10 year Treasury rose over the week to end at 2.10%. The Treasury sold 90 day Treasury bills at auction with a 0.0% yield for the first time. Article
The US reached a 12 nation Pacific trade pact that lowers trade barriers and sets commercial rules. It’s the largest trade deal in over 25 years.
In the Fed minutes from their September meeting they cited low inflation as a major reason deciding against making a move. However, Fed officials have made comments that they still anticipate raising interest rates this year. Article
Kicking off third quarter earnings season, Alcoa posted a significant drop in profit on weak aluminum prices and currency impacts, missing estimates.
PIMCO co-founder Bill Gross sued his former employer and parent company Allianz for over $200 million related to his ouster last year.
Dell and its private equity partner Silver Lake are in talks to merge with data storage company EMC Corp. in an over $50 billion deal which would be the largest tech merger ever if completed.
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