Financial News and Portfolio Management Discussion through October 1st

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

US Stocks ended the third quarter on an upbeat note. The S&P 500 edged up 0.1% while the Dow gained 0.3% for the week.  Abroad, Europe fell 0.7% weighed down by concerns about Deutsche Bank and Japan slumped 1.8% for the week.  The yield on the 10 year Treasury was flat for the week and month ending at 1.61%.  Article

Durable goods orders were flat in August showing that businesses have failed to ramp up spending.

OPEC agreed that production cuts were necessary and planned to reach a decision on the cuts in November.  Article

The final revision to 2Q GDP showed the quarter grew at a 1.4% pace, which drove economists to revise their expectations for third quarter growth higher.

Consumer spending was flat in August.

After expecting over much of the year to see profit begin to growth again in the third quarter at S&P 500 firms the latest projections show yet another earnings contraction of 2.1% for the quarter.

 

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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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