Financial News and Portfolio Management Discussion through September 6th

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

Markets rose over the week as the jobs data did provide additional support for a US rate hike in September. The S&P 500 and Dow both gained 0.5% for the week.  Internationally, Europe gained 2.0% and Japan jumped 3.4% for the week.  The yield on the 10 year Treasury bond edged down to finish at 1.60%.  Article

The August jobs report missed expectations with a gain of 151,000 and the unemployment rate remaining unchanged at 4.9%. Average earnings rose 2.4% over a year ago, a slowdown from the July pace.  Article

Auto sales fell 4.2% in August from July that latest sign of slowing in the auto market.

Manufacturing activity dropped into contraction territory in August.

The Fed stated it doubted it would ever need to consider negative interest rates

The EU announced that Apple owed Ireland $14.5 billion in back taxes accumulated over the past decade.

 

 

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Raffa Wealth Management is an independent investment advisor providing nonprofit organizations, high net-worth investors, and qualified retirement plans with a full range of investment consulting services.  We were established to fill the need for transparency, clarity, and vision in the professional management of investment assets.   Visit us at www.raffawealth.com

 

 

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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