Financial News and Portfolio Management Discussion through September 23rd

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

US Stocks edged up over the week led by bank stocks who reacted positively to the potential for another Fed rate increase this year. The S&P 500 rose 0.1% and the Dow gained 0.4% for the week. Internationally, Europe climbed 0.7% and Japan jumped 2.0% for the week. The yield on the 10 year Treasury rose again for the week finishing at 2.26%.  Article

At the conclusion of its September meeting the Fed announced it would begin shrinking its balance sheet in October by letting bonds mature and not reinvesting the proceeds. It will let $10 billion in bonds it holds mature each month increasing the amount by $10 billion every quarter until it reaches $50 billion. It also signaled that another rate hike this year was on the table.   Article

Housing starts fell 0.8% in August driven by a large decline in multifamily housing.

S&P dropped China’s credit rating to A+ from AA- due to high debt levels. The move now matches the two other credit rating agencies

Northrop Grumman agreed to purchase Orbital ATK, for $7.8 billion in a bid to strengthen its space focused defense capabilities.

Toys ‘R’ Us filed for bankruptcy.

HP Enterprise plans to cut 10% of its workforce.



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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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