Financial News and Portfolio Management Discussion through October 30th

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

US stocks ended October at a new all time high on the back of strong corporate earnings. The S&P 500 climbed 1.4% and the Dow rose 0.4% for the week. Abroad, the FTSE All World Ex US fell 0.8% for the week. The yield on the 10-year Treasury eased dropping to 1.55% over the week from 1.65%.

With roughly half of S&P 500 companies reporting earnings to date 82% have topped analysts’ earnings estimates.

Consumer confidence rose in September for the first time in three months.

Home sales rose in September more than expected and home price growth in August continued to be at a record high.

Third quarter GDP slowed to 2.0%, the weakest growth rate since the pandemic recovery began last summer.

The personal consumption expenditures price index, the Fed’s preferred inflation gauge, rose 4.4% in September from the previous year, the fastest pace in 30 years. Core prices rose 3.6%.

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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