All the news you need to stay informed about what’s currently driving the market – courtesy of Raffa Wealth Management, LLC.
US stocks had one of their best weeks of the year, hitting record highs, with Hurricane Irma not as bad as feared. The S&P 500 rose 1.6% and the Dow jumped 2.2% for the week. Internationally, Japan soared 3.3% and Europe rose 1.4% for the week. The yield on the 10 year Treasury rose over the week to finish at 2.20% up from 2.06% from the previous week. Article
Median US household income hit the highest inflation adjusted level ever last year, and is up 3.2% from a year before.
The CPI-U rose 0.4% in August, the largest increase since January, topping expectations. Core prices rose 0.2%. For the trailing year prices have risen 1.9%.
The Bank of England announced that they are likely to increase interest rates from their current record low of 0.25% over the coming months. Inflation readings have been higher than expected.
Apple released three new phones including the iPhone X which will retail for $1,000.
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