Financial News and Portfolio Management Discussion through September 18th

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

Stocks fell for the second straight week on concerns about global growth. The S&P 500 dropped 0.6%, while the Dow edged down 0.1% for the week. Abroad, the FTSE All World Ex US fell 1.1% for the week. The yield on the 10-year Treasury edged up over the week to end at 1.37% from 1.34%.

The CPI rose 0.3% in August compared to July, lower than projected and down from the pace of recent months. On an annual basis inflation is up 5.3%.

Several economic indicators in China slowed sharply in August. Retail sales grew 2.5%, significantly short of expectations. Home sales fell and construction starts declined.

US Retail sales rose 0.7% in August, when a decline was expected.

Initial jobless claims rose by 20,000 to 332,000 for the past week.

US consumer sentiment came in slightly below expectations.

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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