Financial News and Portfolio Management Discussion through October 22nd

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

Stocks rose over the week on earnings and merger news. The S&P 500 gained 0.4% and the Dow ticked up less than 0.1% for the week.  Abroad, Japan surged 1.9% and Europe jumped 1.3% for the week.  The yield on the 10 year Treasury ticked down to finish at 1.74%.  Article

China GDP rose 6.7% in the third quarter in line with 2Q and expectations. The growth is being aided by easy credit and other stimulus measures.

At the ECB’s most recent meeting they elected to not make any changes to its bond buying stimulus program, but made statements alluding to a possible extension of its bond buying program at its December meeting. It is currently set to end in five months.  Article

BAT made a $47 billion bid to buy the rest of Reynolds American to create the world’s largest tobacco firm.

AT&T agreed to purchase Time Warner for $85 Billion combing media and telecommunications giants and will be closely reviewed by regulators. Article

B of A, United, Netflix, Microsoft, Goldman Sachs, Morgan Stanley, Intel, McDonald’s, Yahoo and IBM beat forecasts, while Verizon and GE fell short of expectations.



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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 herein 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. Source: FMG Suite, LLC.
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